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COWB - Meats Q4 2019 Review And The Outlook For Q1 2020
Barclays Bank PLC
The animal protein or meat sector moved 10.14% higher in Q4 as live cattle futures price posted a double-digit gain over the final three months of 2019. The sector finished 2018 with a 3.73% loss and moved 5.15% higher in 2019. Meats ended 2017 with an 8.39% gain after falling 8.80% in 2016. In the meat markets, results can be skewed by term structure given the seasonality in the prices of beef and pork.
During Q4, the animal protein sector rose despite being in the heart of the offseason. Live cattle futures made lower highs