Loading…
US live and feeder cattle futures gained on export optimism, with China buying more US beef ahead of the Lunar New Year. Wholesale choice beef rose 75 cents to $210.19 per cwt.
Lean hog futures also gained as cold storage supplies were lower.
Expanding Chinese beef purchases support cattle demand and prices, while lower cold storage pork stocks lift hog futures.
grainews.caChristopher Walljasper, GFM Network NewsNov 5, 2020After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% over 20.
After 47 past bullish trade events, Feeder Cattle moved a median +0.2% over 5 sessions (53% higher; middle half -1.0% to +1.0%), and +1.5% over 20.
After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% 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.
