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Cash cattle bids were around $115 live and $182 dressed, with packers gathering cattle for January delivery amid large weights and ample supply. China approved six more Brazilian beef plants, and African swine fever in China has improved world beef demand.
Ample cash supply and packer leverage pressure cattle prices, while China's ASF-driven protein demand and Brazilian plant approvals add export competition and support for global beef prices.
tsln.comNov 15, 2019After 121 past bearish trade events, Live Cattle moved a median -0.6% over 5 sessions (40% higher; middle half -1.6% to +0.8%), and -0.3% over 20.
After 87 past bearish trade events, Feeder Cattle moved a median +0.4% over 5 sessions (54% higher; middle half -3.2% to +1.9%), and +1.1% 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.
