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Cattle futures fell sharply on February 24 after Russia invaded Ukraine, with April feeder cattle down $4.475 to $163.80, a two-month low. April live cattle closed $2.45 lower at $142.30.
Higher grain prices also weighed on feeder cattle.
Geopolitical risk and higher feed costs pressured cattle values, cutting roughly $35 per head on feeder and live animals. Buyers should expect volatility in cattle prices and feed costs while the conflict continues.
drovers.comFeb 24, 2022After 10 past bearish geopolitics events, Feeder Cattle moved a median +0.1% over 5 sessions (60% higher; middle half -1.9% to +2.8%), and +0.7% over 20.
After 14 past geopolitics events, Live Cattle moved a median -0.5% over 5 sessions (21% higher; middle half -1.3% to -0.0%), and +0.2% over 20.
After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
