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Live cattle futures fell sharply over the week, with the April contract down about $3.50 to $181.47 and June down $4.40 to $175.85. The selloff followed concern about HPAI spreading in dairy cattle, and cash trade and slaughter were lower than the prior week.
Traders have pulled back, and analysts say the market has not shaken off uncertainty.
Fear of avian flu in livestock pushed cattle futures down despite unchanged bullish fundamentals, which lowers the value of cattle-based protein inputs. Lower slaughter and cash trade suggest softer near-term pricing.
wlj.netAnna Miller FortozoApr 5, 2024After 70 past bearish disease events, Live Cattle moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.0%), and +0.4% over 20.
After 46 past bearish disease events, Feeder Cattle moved a median +0.3% over 5 sessions (54% higher; middle half -2.3% to +1.6%), and +1.8% 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.
