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A University of Missouri analyst says 2026 net farm income is projected at $153.4 billion, with livestock receipts far outpacing crop receipts. Cowherd numbers are about 28 million head, and pasture conditions in the Plains are limiting herd rebuilding.
Strong cattle receipts combined with slow herd rebuilding supports tight beef supplies and cattle prices, while crop sector margins remain weaker.
After 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.