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Cattle futures closed sharply higher at the CME on news of a trade deal with Mexico, with August live cattle up $1.95 to $108.20. Feeder cattle also rallied, with August feeders up $1.02 to $150.22.
Expected increased beef exports to Mexico should absorb supply pressure, supporting live and feeder cattle prices after a sell-off.
brownfieldagnews.comMeghan GrebnerAug 27, 2018After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% over 20.
After 47 past bullish trade events, Feeder Cattle moved a median +0.2% over 5 sessions (53% higher; middle half -1.0% to +1.0%), and +1.5% over 20.
After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% 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.
