# Risk-Off | Ohio BEEF Cattle Letter

> A commentary from Colorado State University describes a risk-off move in markets on March 9, 2020, with oil prices down about 20% and stock index futures off at least 5%. The author attributes it to uncertainty over the spread and economic impact of the novel coronavirus outbreak that began in Wuhan, China.

- Date: 2020-03-11 · published 2020-03-11T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9942-risk-off-ohio-beef-cattle-letter
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Broad risk aversion and a collapse in crude oil prices lower energy costs and the dollar-linked value of ag commodities, weighing on feed and biofuel-linked demand and cattle sentiment.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2020-03-11 | 5 | -10.1% | -4.4 | Risk-off across oil and equities on March 9 reduced speculative appetite for commodities including soyoil. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-01-27 | [Asia Wrap:"Risk-Off" Dash And Brexit Ahead \| Investing.com](https://feedsoft.ai/events/55362-asia-wrap-risk-off-dash-and-brexit-ahead-investing-com.md) | -4.7% | -5.1% |
| WTI | 2020-02-24 | [Virus-driven risk-off move lifts yen versus dollar](https://feedsoft.ai/events/54816-virus-driven-risk-off-move-lifts-yen-versus-dollar.md) | -16.0% | -61.7% |
| WTI | 2024-11-08 | [Oil settles down 2% on receding hurricane risk, lackluster China stimulus \| Reuters](https://feedsoft.ai/events/27564-oil-settles-down-2-on-receding-hurricane-risk-lackluster-china-stimulus-reuters.md) | -5.1% | -6.1% |
| WTI | 2021-09-21 | [The Commodities Feed: Risk-off move hits the complex \| snaps \| ING THINK](https://feedsoft.ai/events/6381-the-commodities-feed-risk-off-move-hits-the-complex-snaps-ing-think.md) | +7.3% | +17.3% |
| WTI | 2022-07-07 | [The recent commodity sell-off](https://feedsoft.ai/events/5055-the-recent-commodity-sell-off.md) | -2.0% | -7.4% |
| BRENT | 2021-08-18 | [Rand loses traction as risk-off mood dominates](https://feedsoft.ai/events/45852-rand-loses-traction-as-risk-off-mood-dominates.md) | +2.8% | +5.9% |
| BRENT | 2020-02-24 | [Virus-driven risk-off move lifts yen versus dollar](https://feedsoft.ai/events/54816-virus-driven-risk-off-move-lifts-yen-versus-dollar.md) | -13.0% | -55.2% |
| BRENT | 2024-11-08 | [Oil settles down 2% on receding hurricane risk, lackluster China stimulus \| Reuters](https://feedsoft.ai/events/27564-oil-settles-down-2-on-receding-hurricane-risk-lackluster-china-stimulus-reuters.md) | -3.6% | -3.6% |

## Sources

- u.osu.edu: https://u.osu.edu/beef/2020/03/11/risk-off/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.