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Live cattle futures gained on January 21 ahead of the USDA Cattle on Feed report, with April live cattle up 1.075 cents to 119.950 cents per pound. Traders expected fewer cattle to be placed in feedlots because rising grain prices have made feeding more expensive.
Expected lower placements tighten future market-ready supplies and support live and feeder cattle prices. Higher feed costs are limiting feedlots' willingness to add weight.
thebeefsite.comJan 22, 2021
thecattlesite.comGlobal Ag MediaJan 22, 2021After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% 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.
