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CattleFax meteorologist Art Douglas expects US drought relief after about three months, as La Niña gives way to a possible weaker El Niño by summer. Dry soils in the southern Plains will be hard on winter wheat and pasture, while the northern Rockies may keep reliable grazing.
Drought in the southern Plains constrains winter wheat and grazing, supporting HRW wheat and cattle prices, while expected spring relief limits the upside.
hpj.comHPJ StaffFeb 12, 2018After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
After 80 past bullish weather events, Live Cattle moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% over 20.
After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% 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.
