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Cash cattle prices fell from 168 to 160 cwt dressed between Wednesday and Friday, and futures weakened sharply. Tyson said it hopes to reopen the Kansas plant by January.
Corn futures hit contract lows as funds added shorts amid ethanol demand struggles.
Reduced slaughter capacity and weak ethanol demand both point to lower cattle and corn values heading into fall.
tsln.comSep 6, 2019Not enough comparable past events yet for a historical read.
Not 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.
Dressed cash prices fell sharply and Tyson's plant reopening not expected until January, extending the bearish packer demand outlook.
Cash fell from 168 to 160 dressed and futures weakened sharply; the Tyson plant is not expected to reopen until January, keeping packing capacity reduced.
