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Drought has expanded across Oklahoma, southeast Kansas and eastern Colorado, hampering winter wheat pasture grazing in the Southwest and Southern Plains. USDA data show cattle outside feedlots up 2.17% and feedlot placements in January up 11% year over year.
Poor pasture and drought in key wheat-grazing areas push cattle into feedlots earlier, adding near-term feed demand for grain and feed ingredients while weighing on pasture-fed supplies.
agproud.comApr 24, 2017After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
Not enough comparable past events yet for a historical read.
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.
