Loading…
June live cattle fell $8.57 to $80.85 in the week ending April 3, a new contract low, as COVID-19 concerns continued to weigh on prices. August feeder cattle dropped $12.67 to $114.42, also a new contract low, while choice boxed beef held near $230.
Contract lows in live and feeder cattle signal reduced cattle values and weaker feedlot margins, which can cut feed purchases. Firm boxed beef prices suggest the selloff is concentrated in live animals rather than retail-level beef demand.
dtnpf.comTodd HultmanApr 6, 2020Not enough comparable past events yet for a historical read.
Not 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.
June live cattle fell $8.57 to a contract low in the week ending April 3, matching the size of the move.
June live cattle fell $8.57 to a contract low in the week ending April 3, matching the magnitude of the move.
June live cattle hit new contract lows in the week ending April 3 amid COVID-19 concerns, showing the technical and sentiment pressure behind the April 6 selloff.
