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Fat cattle are reported to be worth $140 to $300 less than in January due to COVID-19. Tyson announced it would pay $5 per cwt above the agreed price for cattle slaughtered the week of March 23, after boxed beef rose about $42/cwt, and cattlemen are pressing for packer investigations.
Packer premium payments and a sharp boxed beef rally improve cash cattle values for the week, but overall fat cattle prices remain well below January levels and weigh on feeder demand.
tsln.comCarrie StadheimMar 20, 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.
Tyson's $5/cwt premium for cattle slaughtered the week of March 23 and the roughly $42/cwt boxed beef surge improved packer demand and cash-market sentiment, supporting futures.
Tyson's $5/cwt premium for the week of March 23 and a large boxed beef rise signaled packer demand, supporting the rebound in cattle prices.
Tyson's $5/cwt premium for cattle and the boxed beef surge improved packer demand and sentiment for fed cattle.
