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On March 16, 2020, April live cattle closed $3.72 lower at $91.85 and feeder cattle fell $4.50 on the CME amid broader market meltdown tied to coronavirus concerns. Cash cattle trade was lower, with Southern live deals at $105-110 and northern dressed at $170.
Broad market liquidation and lower cash cattle values signal weaker feeding economics and reduced demand for feed inputs.
brownfieldagnews.comMeghan GrebnerMar 16, 2020Not 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.
Directly describes March 16, 2020 CME declines in live and feeder cattle (feeder down $4.50) amid the broad coronavirus-driven market meltdown, matching the date and direction of the move.
March 16 selloff in April live cattle (down $3.72) set the low base for the 5-day window, so the subsequent rebound is measured from depressed levels.
The March 16 feeder cattle decline marked the low from which the 5-day rebound is measured, reflecting the market meltdown that set up an oversold bounce.
