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The USDA national feeder and stocker cattle report for March 13, 2020 showed receipts of 198,500 head, down from 254,200 last week, and steers and heifers sold $5 to $10 lower. Feeder futures fell 27 to 29.50 over three weeks, and fed cattle traded $3 to $7 lower.
Lower receipts and falling feeder and fed cattle prices signal weaker cattle values and reduced placement demand, pressuring feeder cattle prices and the demand for feed grains.
capitalpress.comStaff ReportsMar 13, 2020After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
USDA report showed cash feeder and stocker cattle $5-10 lower and futures down sharply over three weeks, confirming physical-market weakness.
USDA report shows feeder and fed cattle trading $3-10 lower, confirming cash weakness feeding the futures decline.
