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Western Canadian feeder cattle prices have been falling since early 2018 as feed grain prices rise. Argentina's corn output is now expected at 30 to 31 million mt, down from earlier estimates and last year's 41 million mt, and Brazil's safrinha planting is delayed.
Higher barley and corn costs pressure feeder cattle values and reduce feeding margins. Lower South American corn exports support prices for feed grains.
canadiancattlemen.caJerry KlassenMay 14, 2018After 1,465 past bullish weather events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 29 past bearish weather events, FCATTLE moved a median +0.5% over 5 sessions (62% higher; middle half -0.5% to +2.6%), and +2.4% 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.
