
USDA's January 30 cattle report put total US cattle inventory at 86.2 million head, down 0.4% from a year earlier and the lowest since 1951. Cattle on feed fell 3% to 13.8 million head, and December placements dropped 5%.
A shrinking herd and fewer cattle on feed tighten near-term beef supply and support higher live and feeder cattle prices. Limited heifer retention means the rebuild will be slow.
After 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.