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A Progressive Cattle analysis estimates the total actual and future economic impact of COVID-19 on the US beef industry at more than $14.6 billion. It cites the CARES Act, which included over $9 billion in direct livestock assistance, and notes that East Asian demand for beef exports was an early concern.
A large estimated loss across beef production sectors signals sustained weaker demand and pressure on cattle prices, partly offset by government aid.
agproud.comBrett CrosbyApr 30, 2020After 37 past bearish macro events, Live Cattle moved a median -1.1% over 5 sessions (30% higher; middle half -4.3% to +0.4%), and -0.4% over 20.
After 27 past bearish macro events, Feeder Cattle moved a median -0.9% over 5 sessions (37% higher; middle half -3.7% to +0.4%), and 0.0% 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.
