The coronavirus is another “black swan” that is different in some fundamental ways from other such events in cattle markets, such as the packing plant fire last year or even the first BSE case in late 2003.
The feedlot industry will spend much of the summer working through the backlog of fed cattle but the hole from March and April feedlot placements should provide a marketing window to catch up by this fall if not before.
The U.S. and global economy is in uncharted waters. There are many unknowns about the timing, severity and aftermath of the disease. For beef, there are longer-term questions about the overall impact on demand.