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An LSU AgCenter economist says coronavirus has disrupted cattle trade and product movement, along with large beef supplies, causing a short-term market downturn. He expects prices to improve in the second half of the year, helped by low grain prices and new trade agreements.
Trade disruption and ample beef supply are pushing cattle prices lower in the short term. Low grain prices support feeding margins, and improved trade access could lift export demand later.
lsuagcenter.comMar 10, 2020After 37 past bearish macro events, LCATTLE moved a median -1.1% over 5 sessions (30% higher; middle half -4.3% to +0.4%), and -0.4% over 20.
After 301 past bearish macro events, CORN moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% 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.
