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Heavy rains and a cold front in the Texas and Oklahoma Panhandles reduced cattle receipts, while muddy pen conditions in Nebraska and across the Midwest hampered supplies. Feeder prices were mostly 2-5 lower as CME futures sold off early in the week.
Weather-reduced feeder receipts and deteriorating feedlot conditions lower cattle yields, but the futures sell-off kept buyers cautious and prices lower.
capitalpress.comStaff ReportsJan 31, 2020After 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.
After 18 past bearish weather events, LCATTLE moved a median +0.1% over 5 sessions (56% higher; middle half -0.7% to +0.9%), and -0.1% 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.
