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Cattle futures had a rough week with a sharp correction, while the cash market held together with the north in the mid-to-upper 140s and the south near $140. Many producers took bids for late May delivery as the wide basis favored selling.
Carcass weights have begun to decline.
The futures break leaves live cattle oversold, and firm cash prices with a wide basis favor packers in the near term. Lower carcass weights reduce beef output and may support prices later.
tsln.comApr 29, 2022Not 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.
Describes a sharp futures correction during the week ending April 29, with the cash market holding, consistent with the late-April selloff.
Describes a sharp futures correction in the prior week, with the cash/futures gap pressuring sentiment and carrying into the window.
