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Live cattle futures fell sharply on October 19, 2020, with October live cattle down $.62 1/2 to 107.15 and feeders down $.82 1/2 to 138.10. Traders cited growing concern that COVID-19 would delay economic reopening, and the market had dropped about $5 over the prior week.
Lower futures reduce the value of cattle that feeders are buying and selling, which weakens feeder margins and cuts demand for feed grains and byproducts.
aginfo.netOct 19, 2020Not 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.
Reports the Oct 19 decline and cites COVID-19 reopening concerns as a sentiment driver, though its quoted prices appear to be from the prior session's close.
