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U.S. beef prices hit record highs this summer after drought and rising costs shrank the cattle herd to about 86 million head, down from 94 million five years ago. The administration temporarily cut tariffs on some beef imports and eased rules for ranchers to process and sell their own meat.
A shrinking herd tightens cattle and beef supply, keeping feeder and live cattle prices elevated, while drought-driven feed and water costs raise production costs for feedlots and ranchers.
fullmeasure.newsFull Measure StaffNov 15, 2026After 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.
