Feeder cattle futures spreads across all months have recovered to near pre-COVID levels as quarantine restrictions and packing plant capacity issues have largely been resolved. Pasture conditions have deteriorated, with the share rated poor or very poor rising since late May and running well worse than the five-year average, driven by drought spreading from the Southwest into the Great Plains.
The author notes producers may need to market weaned calves earlier or winter them.
Deteriorating pasture forces earlier calf sales and adds supply to feeder markets, which could pressure prices, while cheaper corn would support feedlot margins. Producers can use futures spreads to lock in margins.
과거 중립 날씨 이벤트 21건 이후, 비육용 소은 5거래일 동안 중앙값 +1.7% 변동(상승 67%; 중간 50% 범위 -0.1%~+2.3%), 20거래일 동안 -0.2%.
과거 중립 날씨 이벤트 20건 이후, 생우은 5거래일 동안 중앙값 +0.4% 변동(상승 60%; 중간 50% 범위 -0.3%~+1.2%), 20거래일 동안 +3.0%.
각 품목 벤치마크의 이벤트 직전 종가 대비 변동. 과거 수치는 같은 유형의 과거 이벤트를 합산한 것으로, 일어난 일을 설명할 뿐 앞으로 일어날 일이 아닙니다. 투자 자문이 아닙니다.