# COVID-19 infects nearly all commodity prices | Capital Press

> Agricultural economist Brent Gloy said COVID-19 has hit nearly all U.S. commodities, with lean hog prices down 45% and fed cattle down 28% since January by mid-April. Class III milk futures fell 37% and corn and soybean prices dropped 13% and 9% over the same period.

- Date: 2020-04-21 · published 2020-04-21T12:00:00.000Z
- Category: macro · region US · magnitude high
- Page: https://feedsoft.ai/events/6503-covid-19-infects-nearly-all-commodity-prices-capital-press
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Demand destruction from the foodservice shutdown and processing bottlenecks is pushing livestock, dairy and feed grain prices lower, which reduces feed-ingredient costs but signals weak livestock demand.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- HOGS: bearish ▼
- MILK: bearish ▼
- FCATTLE: bearish ▼
- LCATTLE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2025-07-28 | [Sharp drop in hog prices this fall?](https://feedsoft.ai/events/23907-sharp-drop-in-hog-prices-this-fall.md) | -0.8% | -10.2% |
| HOGS | 2020-07-31 | [COVID-19 Disruptions in the U.S. Meat Supply Chain
        
        
        
        - Federal Reserve Bank of Kansas City](https://feedsoft.ai/events/52237-covid-19-disruptions-in-the-u-s-meat-supply-chain-federal-reserve-bank-of.md) | -1.7% | +6.3% |
| HOGS | 2020-01-01 | [Cattle market shaken by COVID-19](https://feedsoft.ai/events/55236-cattle-market-shaken-by-covid-19.md) | -0.9% | -2.8% |
| HOGS | 2017-06-08 | [China's May inflation expected to rise as food price decline narrows - Chinadaily.com.cn](https://feedsoft.ai/events/70488-china-s-may-inflation-expected-to-rise-as-food-price-decline-narrows-chinadaily.md) | +2.4% | +13.2% |
| HOGS | 2018-06-11 | [Lower hog prices ahead](https://feedsoft.ai/events/64673-lower-hog-prices-ahead.md) | +4.5% | +4.1% |
| LCATTLE | 2020-03-31 | [Cattle industry feels effects of COVID-19 pandemic](https://feedsoft.ai/events/6442-cattle-industry-feels-effects-of-covid-19-pandemic.md) | -11.3% | -16.4% |
| LCATTLE | 2020-04-30 | [Estimating COVID-19 effects on the cattle markets - Progressive Cattle \| Ag Proud](https://feedsoft.ai/events/53773-estimating-covid-19-effects-on-the-cattle-markets-progressive-cattle-ag-proud.md) | +3.2% | +19.4% |
| LCATTLE | 2020-07-31 | [COVID-19 Disruptions in the U.S. Meat Supply Chain
        
        
        
        - Federal Reserve Bank of Kansas City](https://feedsoft.ai/events/52237-covid-19-disruptions-in-the-u-s-meat-supply-chain-federal-reserve-bank-of.md) | +1.2% | +5.3% |

## Sources

- capitalpress.com: https://capitalpress.com/2020/04/21/covid-19-infects-nearly-all-commodity-prices/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.