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A Texas cattle association weather update says ENSO will stay neutral into spring 2020 and that the NOAA December-February outlook calls for a cold, occasionally snowy late winter in the Northern Plains, Midwest and Great Lakes. It also flags a warm North Pacific pattern that could bring sporadic cold snaps.
Cold, snowy weather in the northern feeding areas raises cattle and feed energy costs and can cut feedlot performance, which modestly supports feed grain demand.
tscra.orgWritten by: kristinNov 25, 2019After 20 past neutral weather events, Live Cattle moved a median +0.4% over 5 sessions (60% higher; middle half -0.3% to +1.2%), and +3.0% over 20.
After 21 past neutral weather events, Feeder Cattle moved a median +1.7% over 5 sessions (67% higher; middle half -0.1% to +2.3%), and -0.2% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
