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US live cattle futures rose by daily limits for two sessions on May 7 as boxed beef prices hit historic highs amid plant closures. Cash cattle rebounded to $110 in the southern Plains after Trump asked DOJ to examine packer antitrust allegations.
Packer capacity shortfalls and record beef prices support cattle futures, while cash cattle rebounds lift feeder values. Supply restrictions remain the key price driver.
thecattlesite.comGlobal Ag MediaMay 7, 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 futures rose by the daily limit on May 7 as record boxed beef prices and a cash rebound to $110 followed the DOJ packer probe, which directly explains the 5-day rally ending May 11.
Live cattle futures rose by the daily limit on May 7 as record boxed beef and a DOJ packer probe lifted cash cattle to $110, which supports feeder futures, though the event falls just after the May 6 window end.
Live cattle futures rose by the daily limit for two sessions on May 7 as record boxed beef prices and plant closures tightened supply, which drove the early part of the rally.
Live cattle futures hit limit-up on May 7 as record boxed beef and plant closures plus the DOJ packer probe lifted cash cattle, a momentum that plausibly carried into the May 11 gain.
