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Live and feeder cattle futures were down most of the week, and the Cattle on Feed report was neutral. Slaughter ran strong at 647,000 head, and China reported a coronavirus outbreak that is associated with respiratory illness.
Strong slaughter and weak cash prices, combined with coronavirus fears, pressure cattle futures and feeder values.
dtnpf.comShayLe StewartJan 27, 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.
After 27 past bearish macro events, Feeder Cattle 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.
