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Beef prices remain high because dry conditions and higher feed costs led farmers to sell cattle rapidly in recent years. That wave of sales, especially of breeding cows, has reduced the herd.
The article text is a short excerpt.
A depleted cow herd limits calf and fed cattle supply for months to come, keeping beef and live cattle prices supported and sensitive to drought and feed costs.
cnn.comDanielle Wiener-BronnerApr 5, 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.
After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% 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.
