Live cattle and feeder cattle futures rose on Tuesday, while cash fed-cattle trade was mostly inactive and boxed beef values were mixed. Corn, soybean and Kansas City HRW wheat futures also gained, with the report attributing grain support to lower ending stocks in USDA’s WASDE; WTI futures were lower, and U.S. stock indices declined after hotter-than-expected inflation data.
Lower USDA ending-stock estimates tighten expected grain availability and can raise feed costs for livestock producers. Stronger cattle futures support livestock price expectations, while lower WTI offers some offset to energy costs.
After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.