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Live and feeder cattle futures closed lower on the CME after a USDA report raised production estimates for 2020. February live cattle fell $1.22 to $119.07 and March feeder cattle fell $1.02 to $134.67.
A USDA projection of higher cattle production weighs on futures and cash trade, pressuring feeder and fed cattle prices in the near term.
brownfieldagnews.comMeghan GrebnerFeb 12, 2020After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% 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.
