# Get ready for higher beef prices this summer. Here’s why. - MarketWatch

> Cattle futures climbed to record highs as prolonged drought in the southwestern United States hurt pastureland and led to culling of female animals. USDA data showed the Jan. 1, 2023 cattle inventory at 89.3 million head, down 3%, the smallest since 2015.

- Date: 2023-06-07 · published 2023-06-07T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/10087-get-ready-for-higher-beef-prices-this-summer-here-s-why-marketwatch
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

A shrinking breeding herd limits beef supply for a long period, which supports cattle prices and raises feed demand over time. Tighter cattle supplies point to higher beef prices into the summer.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2024-11-11 | [Why beef prices have been rising this fall](https://feedsoft.ai/events/27540-why-beef-prices-have-been-rising-this-fall.md) | -1.1% | +1.4% |
| LCATTLE | 2023-04-05 | [Here’s why beef is still pricey \| CNN Business](https://feedsoft.ai/events/10375-here-s-why-beef-is-still-pricey-cnn-business.md) | +3.3% | +0.6% |
| LCATTLE | 2021-08-13 | [How this summer's drought could have you paying high beef prices again next year \| CBC News](https://feedsoft.ai/events/45514-how-this-summer-s-drought-could-have-you-paying-high-beef-prices-again-next.md) | -0.1% | +1.0% |
| LCATTLE | 2023-09-24 | [Summer Grilling Season Ends, But Not The High Price Of Beef](https://feedsoft.ai/events/34244-summer-grilling-season-ends-but-not-the-high-price-of-beef.md) | -0.6% | -0.7% |
| LCATTLE | 2019-07-15 | [Cattle and beef markets looking for summer direction: Peel](https://feedsoft.ai/events/58218-cattle-and-beef-markets-looking-for-summer-direction-peel.md) | +0.5% | +1.0% |
| FCATTLE | 2024-11-11 | [Why beef prices have been rising this fall](https://feedsoft.ai/events/27540-why-beef-prices-have-been-rising-this-fall.md) | +2.3% | +4.2% |
| FCATTLE | 2023-04-05 | [Here’s why beef is still pricey \| CNN Business](https://feedsoft.ai/events/10375-here-s-why-beef-is-still-pricey-cnn-business.md) | +2.2% | +2.8% |
| FCATTLE | 2021-08-13 | [How this summer's drought could have you paying high beef prices again next year \| CBC News](https://feedsoft.ai/events/45514-how-this-summer-s-drought-could-have-you-paying-high-beef-prices-again-next.md) | -0.3% | -2.8% |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/why-cattle-futures-have-climbed-to-their-highest-prices-on-record-a550f507

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.