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Persistent drought has sharply reduced the US cattle supply, pushing beef prices higher. Beef production is on track for its biggest annual decline in decades.
A shrinking cattle herd tightens beef supply and supports cattle prices throughout the chain. Feed buyers may see steady or stronger demand from feedlots as herds rebuild slowly.
wsj.comPatrick Thomas | Photographs by Daniel Brenner for The Wall Street JournalJun 1, 2023After 80 past bullish weather events, Live Cattle moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
