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R-CALF and other ranchers filed a class action lawsuit against Tyson, Cargill, JBS USA and National Beef, alleging a conspiracy to keep fed cattle prices low. The complaint, filed in federal court in Northern Illinois, says the practices depressed cattle prices by an average of 7.9% over four years.
The suit could expose the packers to damages and may change how fed cattle are priced if it succeeds. Near-term cattle prices are unlikely to move on the filing alone.
fooddive.comLillianna ByingtonApr 25, 2019After 102 past neutral policy events, Live Cattle moved a median +0.6% over 5 sessions (63% higher; middle half -0.7% to +1.2%), and +1.3% 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.
