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USDA's cattle inventory report showed 28.9 million beef cows in the U.S., the fewest on record and below 2014 levels. Most top beef-cow states saw year-over-year declines, with only Missouri unchanged.
A record-low beef cow base signals tighter future beef supply, which supports cattle and feeder prices over the coming years.
dtnpf.comShayLe StewartFeb 3, 2023After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% 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.
The record-low beef cow count reinforces the tight-supply narrative behind the buying, though it was published before the move.
