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CME live cattle futures ended mostly lower as several contracts hit contract lows on worries that coronavirus would hurt global growth and beef demand. Commodity funds liquidated long positions amid a broader risk-off move in stocks and oil.
Fed cattle traded at $115 per cwt, down $5 on the week.
Expected weaker beef demand and ample market-ready supplies pressure cattle prices, and lower cash trade signals reduced packer margins for feeder cattle.
financialpost.comReutersFeb 27, 2020Not 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.
Live cattle hit contract lows as funds liquidated longs on coronavirus-driven demand and growth worries, with cash down $5.
