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Cattle futures and cash prices have swung sharply since February as COVID-19 spread, with June fed cattle futures falling from $112 to $80 before rebounding to $84. Packing plants have faced temporary closures from infected workers and staff staying home, and cash feeder prices rebounded to $155 after a March low of $134.
Packing plant closures reduce slaughter capacity, which can push fed cattle prices down and slow the flow of animals through feedlots. Rebounding feeder prices and herd expansion plans point to uncertain future cattle numbers and feed demand.
capitalpress.comCAROL RYAN DUMASCapital PressApr 7, 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.
