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Kentucky livestock economist Kenny Burdine said the market reaction to the JBS cyberattack was limited because it was seen as short-term, while feeder cattle have been more affected by new-crop 2021 corn prices, which are up roughly $1 per bushel from spring. He noted that feeder cattle respond to corn with a lag because of the time before feeders move into beef production.
Higher corn costs raise the feeding cost of cattle and pressure feeder cattle values, so feed-grain strength is a bearish factor for feeders and a source of demand for corn.
u.osu.eduSmith atJun 16, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
