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An annual cattle outlook reviews 2020, when realized quarterly average prices came in $6 to $9 below the midpoint of the previous year's forecast. The author attributes the miss to coronavirus disruptions to beef and cattle markets at home and abroad.
Forecast misses highlight how demand shocks can override supply fundamentals in cattle pricing. The outlook for 2021 depends on how quickly beef demand and feedlot supplies normalize.
utbeef.tennessee.eduJan 9, 2021Not 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.
