{"id":1481352,"date":"2024-08-03T03:20:00","date_gmt":"2024-08-03T07:20:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1481352"},"modified":"2024-08-03T03:20:00","modified_gmt":"2024-08-03T07:20:00","slug":"cattle-market-rattled-by-recession-risks-as-cash-strapped-consumers-pull-back","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/cattle-market-rattled-by-recession-risks-as-cash-strapped-consumers-pull-back\/1481352\/","title":{"rendered":"Cattle Market Rattled By Recession Risks As Cash-Strapped Consumers Pull Back"},"content":{"rendered":"

Cattle Market Rattled By Recession Risks As Cash-Strapped Consumers Pull Back<\/span><\/p>\n

\n

Is a meat recession coming?<\/em><\/p>\n

The dismal US jobs report has ignited recession fears<\/a>, with some major Wall Street banks\u00a0forecasting at least three 25bps interest rate cuts<\/a> this year,\u00a0with the first one starting in\u00a0September. Recessions typically reduce household incomes and alter diets.\u00a0<\/p>\n

One major issue with this consumer downturn is that households have already been financially crushed by\u00a0elevated inflation and high interest rates over the last few years. A weakening labor market and a downshifting economy are just icing on the cake as the consumer has depleted personal savings<\/a> and maxed out credit cards.\u00a0<\/p>\n

As previously noted, the United States Department of Agriculture recently reported beef prices at the supermarket reached a record high<\/a> of $5.472 a pound in June. This one-way ticket up in prices has been primarily based on a shrinking US cattle herd to the smallest size in 73 years<\/a>.\u00a0<\/p>\n

<\/a><\/p>\n

Besides the US main equity indexes getting blasted on Friday by recession fears, cattle futures in Chicago were rattled by the slowdown, sending contracts down as much as 4% – but still trading near record highs.<\/p>\n

<\/a><\/p>\n

Fears over a “meat recession” are growing as traders see high prices and a consumer downturn as a perfect recipe for stoking demand destruction.\u00a0<\/p>\n

Here’s more from Bloomberg:\u00a0<\/p>\n

Cattle futures are dropping as a falling stock market prompts worries that consumers will pull back from high-priced beef. Sales of steak typically increase when equity markets rise and with stocks selling off after a weak US jobs report, prices for cattle are tracking the downturn.<\/em><\/p>\n

Commodity research firm\u00a0Hightower Report wrote in a note Friday,\u00a0“There is no question the cattle market is sensitive to economic fears,” adding,\u00a0“Consumer beef demand is in question.”<\/em><\/strong><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 08\/02\/2024 – 23:20<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/commodities\/cattle-market-rattled-recession-risks-cash-strapped-consumers-pull-back<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Cattle Market Rattled By Recession Risks As Cash-Strapped Consumers Pull Back Is a meat recession coming? The dismal US jobs report has ignited recession fears,…<\/p>\n","protected":false},"author":0,"featured_media":1481353,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1481352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1481352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1481352"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1481352\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1481353"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1481352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1481352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1481352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}