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Feedlots face tough pen conditions from winter weather, and cattle prices firmed as the CME Feeder Cattle Index fell to $139.23, its lowest since June. Southeast grazing calves drew strong demand while feedlot-bound cattle saw lighter demand.
Weather-hampered cattle performance tightens near-term fed supply, supporting fed cattle prices while feeder prices remain under pressure from seasonal grazing demand.
beefmagazine.comWes IshmaelMar 2, 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 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 21 past neutral weather events, Feeder Cattle moved a median +1.7% over 5 sessions (67% higher; middle half -0.1% to +2.3%), and -0.2% 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.
