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CME August feeder cattle futures gained on June 3 to 152.95 cents per pound as Chicago corn futures fell 13 cents to $6.62 per bushel. Cattle slaughter resumed its normal pace after a cyberattack shut JBS operations over the weekend.
Lower corn costs improve feeder economics and support feeder cattle prices, while packer disruptions had limited lasting effect on slaughter volumes.
financialpost.comReutersJun 3, 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.
Feeder futures gained on lower corn on June 3, just after the window, which confirms the inverse link between corn and feeders and the continued strength after the move.
