April 2020 CME Live Cattle futures closed at $126.77/cwt on Jan 22, 2020.
Today's April 2020 CME Live Cattle close was $88.32/cwt.
A 30+% decline in about 52 trading sessions.......Producers of fed cattle, yearlings, and calves are taking a huge hit while looking at a meteoric spike in margins for the packing sector...... and basically steady retail prices (to this point) for beef consumers - depending on product type and logistical challenges in putting the product in the beef case.
Wow, if it is eventually proven that likely the most widely used parasite control for cattle over the last couple of decades is effective against the virus.....
That would be irony at the highest level.
Today's April 2020 CME Live Cattle close was $88.32/cwt.
A 30+% decline in about 52 trading sessions.......Producers of fed cattle, yearlings, and calves are taking a huge hit while looking at a meteoric spike in margins for the packing sector...... and basically steady retail prices (to this point) for beef consumers - depending on product type and logistical challenges in putting the product in the beef case.
Wow, if it is eventually proven that likely the most widely used parasite control for cattle over the last couple of decades is effective against the virus.....
That would be irony at the highest level.