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A bomb cyclone brought blizzard conditions, heavy rain, and flooding to the Plains, curtailing cattle receipts in Nebraska and the Dakotas. Steers and heifers sold $1-$5 per cwt lower in the North and South Central regions, while feeder futures closed lower but found late-week support from live cattle and lean hogs.
Weather-related reductions in cattle marketings and calf crop losses tighten feeder supplies, which supports cattle prices over the medium term. Muddy pens and higher cost of gain also weigh on feedlot demand.
beefmagazine.comWes IshmaelMar 16, 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 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.
After 12 past bullish weather events, Lean Hogs moved a median +1.5% over 5 sessions (58% higher; middle half -1.6% to +7.1%), and -3.9% 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.
