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Live cattle closed up $1 to $1.50 and feeder cattle rose $1.42 to $3.07 on May 22. USDA reported another human H5N1 case in Michigan linked to a dairy herd, and the Cattle on Feed report was due Friday.
Firm futures and cash trade near $187 to $192 support prices, while the H5N1 dairy-linked case adds disease headline risk for the dairy and beef complex.
ibestmedia.comMay 23, 2024After 148 past bullish disease events, Live Cattle moved a median +0.4% over 5 sessions (62% higher; middle half -0.5% to +1.2%), and +1.4% over 20.
After 122 past bullish disease events, Feeder Cattle moved a median +0.4% over 5 sessions (60% higher; middle half -1.0% to +1.6%), and +2.0% over 20.
After 22 past neutral disease events, Milk (Class III) moved a median -0.1% over 5 sessions (41% higher; middle half -1.4% to +0.5%), and +0.2% 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.
Report of May 22 trading shows feeder cattle up $1.42 to $3.07 as the rally extended, directly describing the price action leading into the 3.95% move on May 23, with H5N1 news as added sentiment.
