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CME live cattle futures fell sharply after USDA cattle on feed and inventory reports showed continued herd expansion and a large jump in placements. August live cattle was down $2.55 and feeder cattle down $4.50 to $148.45.
Confirmed herd growth and heavy placements imply substantial beef supply later in the year, pressuring futures and feeder cattle values.
brownfieldagnews.comJohn PerkinsJul 24, 2017After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% 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.
