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Severe drought across the Northern Plains is pushing producers to market calves earlier than usual to relieve pasture and hay pressure. Feeder cattle may come to market in greater numbers in August and September, and the fall corn crop is also being watched.
A larger early supply of feeder cattle from drought-hit areas adds near-term pressure on feeder cattle prices. Corn harvest prospects also affect feeding costs and the outlook for the fall run.
beefmagazine.comBurt RutherfordAug 10, 2017After 29 past bearish weather events, Feeder Cattle moved a median +0.5% over 5 sessions (62% higher; middle half -0.5% to +2.6%), and +2.4% over 20.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
