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A University of Kentucky economist sees potential for a stronger fall 2020 calf market than in fall 2019. Feedlot placements were reduced in spring due to pandemic processing bottlenecks, and cattle are now moving onto feed.
USDA's August forecast put the corn crop above 15 billion bushels, though recent weather may trim the harvest.
Stronger calf demand from heavier feeders suggests firm feed grain use this fall, while weather-related corn trimming could tighten supplies. Corn price support is likely if the crop comes in below forecast.
news.mgcafe.uky.eduAimee NielsonSep 22, 2020After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% 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.
