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US cattle inventory has fallen to about 86 million head, down from 94 million five years ago, after drought in Texas and the western states and rising costs forced ranchers to sell early. Ground beef topped $7 a pound, and the government temporarily cut tariffs on some beef imports and eased rules for ranchers to process and sell their own meat.
A shrinking herd keeps cattle supplies tight and beef prices high, which supports cattle prices and raises feed demand as herd rebuilding is slow. Imported beef relief may cap some retail pressure, but the supply shortfall remains the main driver.
fullmeasure.newsFull Measure StaffNov 15, 2026After 28 past bullish macro events, Live Cattle moved a median -0.3% over 5 sessions (39% higher; middle half -1.2% to +0.9%), and +1.7% 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.
