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Oklahoma State extension economist Derrell Peel explains that seven years of drought-driven herd liquidation have produced record cattle and beef prices. The beef cow herd on January 1, 2025 was 27.86 million head, the smallest since 1961, and the 2025 calf crop is the smallest since 1941.
A structurally shrinking cow herd means tighter cattle supplies for years, supporting feeder and live cattle prices and keeping demand for feed and byproducts like DDGS firm for finishing operations.
beefmagazine.comDerrell PeelOct 30, 2025After 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.
