Loading…
Oklahoma State extension economist Derrell Peel reports that fed and feeder cash cattle markets jumped sharply the prior week after several weeks of pressure. He notes excess water and flooding in Nebraska and delayed haying in other regions.
Corn is expected to be higher on a smaller crop, though the size of the reduction remains uncertain.
Expected higher corn prices from a smaller crop raise feeding costs, which weigh on cattle values. Flooding and delayed haying also tighten forage supplies for cattle producers.
meatingplace.comMeatingplace EditorsJul 15, 2019After 80 past bullish weather events, Live Cattle moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% 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.
After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% 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.
