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Markets sold off on coronavirus fears, with live cattle futures down $2.59 on Monday while feeder futures were nearly unchanged. The outbreak had reached over 6,000 cases and 15 countries, and airline and travel disruptions were noted.
Disruptions to travel, dining out and entertaining reduce demand for meat, which pressures live cattle futures and cash prices.
beefmagazine.comSteve DittmerJan 30, 2020After 37 past bearish macro events, Live Cattle moved a median -1.1% over 5 sessions (30% higher; middle half -4.3% to +0.4%), and -0.4% 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.
