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Cattle markets fell last week as coronavirus fears dragged futures lower. Packers bought fed cattle about $3 cheaper, with cash trade at $119-123 live, and feeder auctions saw widespread declines.
Fear-driven futures selling pushed cash and feeder prices lower, and weaker demand expectations for beef weigh on feeder and fed cattle values.
wlj.netKerry Halladay, WLJ Managing EditorJan 31, 2020After 37 past bearish macro events, LCATTLE moved a median -1.1% over 5 sessions (30% higher; middle half -4.3% to +0.4%), and -0.4% over 20.
After 27 past bearish macro events, FCATTLE moved a median -0.9% over 5 sessions (37% higher; middle half -3.7% to +0.4%), and 0.0% 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.
