CME feeder cattle futures rallied to a three-month high on Friday after USDA unexpectedly raised its 2026 US corn harvest outlook. Corn prices fell sharply on the report.
Cheaper corn lowers feeding costs for cattle, supporting feeder cattle futures and demand for feeder animals.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.