Loading…
Live cattle futures were limit down on March 12, 2020, with April live closing at $100.07 and feeder futures down $4.50 with March feeders at $118.82. Cattle feeders traded cattle around $109.82 live and $174.85 dressed, and boxed beef held relative strength with Choice down $1.16.
Negative feeding margins on placements suggest reduced feeder cattle demand ahead, a bearish signal for feeder prices and feed demand, while firm boxed beef supports packer margins.
wlj.netPete Crow, WLJ publisher emeritusMar 13, 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.
Directly describes the March 12, 2020 limit-down close in live and feeder futures (feeders down $4.50), which is the move in question, driven by broad market pressure and sentiment.
Limit-down feeder and live cattle futures on March 12 (March feeders at $118.82) directly drove the week's decline.
Live cattle limit down on March 12 with April live at $100.07 directly documents the week's sharp decline.
