# U.S. livestock: Hog futures drop to 3-1/2 year low - Grainews

> U.S. hog futures fell to a 3-1/2 year low on April 2, 2020 while live and feeder cattle dropped by daily limits amid recession fears and surging unemployment from the coronavirus pandemic. April lean hogs settled at 44.7 cents/lb, the lowest spot level since October 2016. Packers slowed meat output as demand weakened and cash prices faded.

- Date: 2020-04-02 · published 2020-04-02T12:00:00.000Z
- Category: disease · region US · magnitude medium
- Page: https://feedsoft.ai/events/6598-u-s-livestock-hog-futures-drop-to-3-1-2-year-low-grainews
- 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)

## Why it matters

Demand destruction from restaurant closures and stay-at-home orders is outpacing supply adjustments, pushing livestock prices lower and weakening feeder demand for feed grains and meals.

## Read by commodity

- HOGS: bearish ▼
- FCATTLE: bearish ▼
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| HOGS | 2020-04-02 | 5 | -19.1% | -4.9 | Hog futures hit a 3.5-year low on April 2 as recession fears, surging unemployment and weaker packer demand drove the selloff, directly matching the move window. |
| HOGS | 2020-04-03 | 5 | -20.8% | -4.8 | Hog futures hit a 3.5-year low on April 2 amid recession fears, slowed packer output and weaker demand, directly capturing the week's crash. |
| LCATTLE | 2020-04-05 | 5 | -9.3% | -4.3 | Live and feeder cattle fell by daily limits on April 2 amid recession fears and unemployment, with packers slowing output on weaker demand. |
| LCATTLE | 2020-04-06 | 5 | -11.3% | -5.0 | Cattle limit-down on April 2 amid recession fears and surging unemployment, with packers slowing output as demand weakened. |
| LCATTLE | 2020-04-06 | 1 | -6.0% | -4.4 | Limit-down live and feeder cattle on April 2 amid recession fears and packers slowing output weakened demand for fed cattle. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2024-05-01 | [LIVESTOCK-Bird-flu testing of US ground beef sinks CME cattle futures \| MarketScreener](https://feedsoft.ai/events/5411-livestock-bird-flu-testing-of-us-ground-beef-sinks-cme-cattle-futures.md) | -0.6% | -0.2% |
| HOGS | 2020-03-31 | [US hog futures tumble in week 14 - je.st - US hog futures tumble in week 14](https://feedsoft.ai/events/54295-us-hog-futures-tumble-in-week-14-je-st-us-hog-futures-tumble-in-week-14.md) | -17.7% | -6.0% |
| HOGS | 2024-04-30 | [US live cattle, feeder cattle futures end lower - CME
						 \| The Cattle Site](https://feedsoft.ai/events/5417-us-live-cattle-feeder-cattle-futures-end-lower-cme-the-cattle-site.md) | -0.6% | +0.9% |
| HOGS | 2018-12-24 | [Lean Hog Futures Settle Lower in Holiday-Shortened Session](https://feedsoft.ai/events/61694-lean-hog-futures-settle-lower-in-holiday-shortened-session.md) | -0.6% | +3.5% |
| HOGS | 2017-03-14 | [Bans on poultry product imports bear watching by U.S. livestock producers](https://feedsoft.ai/events/72134-bans-on-poultry-product-imports-bear-watching-by-u-s-livestock-producers.md) | -1.5% | -9.1% |
| LCATTLE | 2025-08-08 | [U.S. livestock: Cattle futures fall hard, hogs mixed - Grainews](https://feedsoft.ai/events/12276-u-s-livestock-cattle-futures-fall-hard-hogs-mixed-grainews.md) | -1.4% | -0.3% |
| LCATTLE | 2024-04-05 | [HPAI uncertainty leads to major futures selloff \| Western Livestock Journal](https://feedsoft.ai/events/6735-hpai-uncertainty-leads-to-major-futures-selloff-western-livestock-journal.md) | -1.0% | -2.4% |
| LCATTLE | 2018-10-29 | [Livestock Lowdown: Monday Midday Livestock Market Summary - Cattle Futures Giving Back Gains](https://feedsoft.ai/events/10112-livestock-lowdown-monday-midday-livestock-market-summary-cattle-futures-giving.md) | +3.1% | +3.8% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-livestock-hog-futures-drop-to-3-1-2-year-low/

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