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Live cattle futures closed mostly limit down at the CME, with October live cattle down $4.50 at $99.25. Feeder cattle also fell, though losses were limited by a lower corn move.
Direct cash cattle trade remained at a standstill.
Reduced packing capacity from the Kansas plant fire continues to pressure cattle prices. A stalled cash market keeps price discovery thin and adds to downside risk.
brownfieldagnews.comMeghan GrebnerAug 13, 2019Not enough comparable past events yet for a historical read.
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.
October live cattle closed mostly limit down ($4.50 lower) with cash trade at a standstill, showing the immediate price impact of the lost slaughter capacity.
Live cattle closed limit down and feeder cattle fell with them, though a lower corn move limited the losses. This shows the slaughter-capacity shock passing through to feeders.
