# Marketline Report for Wednesday, May 1st - AG INFORMATION NETWORK OF THE WEST

> Live cattle futures lost about half of a one-year rally, with the drop attributed to managed money taking profits. May Chicago wheat closed down 8.25 cents and May corn up 1.25 cents.

- Date: 2019-05-01 · published 2019-05-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4624-marketline-report-for-wednesday-may-1st-ag-information-network-of-the-west
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Fund profit-taking drives short-term cattle price moves, while small corn gains add modest support to feed costs.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bearish ▼
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| LCATTLE | 2019-05-01 | 1 | -4.1% | -10.2 | Same-day report attributes the live cattle drop, which erased about half of a one-year rally, to managed money profit-taking, a direct sentiment and positioning driver of the -4% move. |
| LCATTLE | 2019-05-02 | 5 | -5.2% | -3.8 | Live cattle futures gave back about half of a one-year rally on managed money profit-taking, a sentiment/positioning driver of the decline. |
| LCATTLE | 2019-05-06 | 5 | -6.2% | -3.6 | Profit-taking by managed money erased about half of a one-year rally in live cattle futures, directly contributing to the decline. |
| LCATTLE | 2019-04-30 | 1 | -4.1% | -9.9 | Attributes the live cattle drop (about half of a one-year rally erased) to managed money profit-taking, a sentiment/positioning mechanism that fits the outsized move. |

## Sources

- aginfo.net: https://www.aginfo.net/report/42711/Marketline-Report-for-Wednesday-May-1st

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.