I got this from another but I think it is a great summary....
The slaughter houses are shut down..this creates a shortage at retail firming retail prices,,,,,
the "on-the-hoof" animals have no demand since slaughter is curtailed and, thus, cash prices at the producer level get creamed.....
This creates a future bull market once demand meets supply. (i.e. forced sales of the cash herd puts in the low).