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Brownfield reports that live and feeder cattle closed lower on the week, pressured by weaker cash trade and wholesale business. Hog futures also fell following the USDA Hogs and Pigs report.
Lower hog and cattle values following a bigger-than-expected hog herd weigh on livestock margins and feed demand outlook.
brownfieldagnews.comMeghan GrebnerJun 27, 2020After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% 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.
