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U.S. live and feeder cattle futures rallied to their highest levels in nearly a month on Sept. 27.
Traders grew more bullish on export demand after the U.S. and Japan signed a limited trade deal that would cut Japanese tariffs on American beef, pork, wheat and cheese. Feeder cattle were trading above their levels before the Tyson Holcomb fire.
Lower Japanese tariffs on U.S. beef raise expected export demand for beef, which supports cattle prices. Feeder cattle are also recovering from the loss of a major packing buyer.
reuters.comP.J. HuffstutterSep 27, 2019After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% over 20.
After 47 past bullish trade events, Feeder Cattle moved a median +0.2% over 5 sessions (53% higher; middle half -1.0% to +1.0%), and +1.5% 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.
