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Pete Crow reports feeder cattle fell to a new low of $131 on June 26 after trading near $160 in April, then jumped the limit or near limit of $4.50 the following Wednesday as feeders dug in to hold the market. He notes cattle supplies are current, packers are running near full capacity at about 660,000 head weekly, and beef exports are down about 4 percent on the year.
Feeder cattle buyers face a volatile market where corn costs and speculative positioning drive sharp swings, while trade barriers such as Japanese tariffs cap export demand for beef. Expensive feed tends to weigh on cattle values, so the rebound may be fragile if corn stays firm.
wlj.netPete Crow, WLJ publisher emeritusJun 27, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
