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USDA's January semiannual cattle inventory showed 89.3 million head on Jan. 1, 2023, 3% lower than a year earlier, following herd liquidation driven by high costs and three years of drought.
The cattle contract library pilot website launched the same day.
Lower inventories and heavy heifer marketings point to tighter beef supplies in 2023, supporting cattle prices and feeder values.
fb.orgBernt NelsonFeb 2, 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.
