US cattle ranchers are beginning to rebuild the herd after six straight years of liquidation pushed beef prices to record highs in 2025. Cattle prices have also reached records, squeezing packer profits.
Herd rebuilding reduces near-term slaughter supply and keeps cattle prices elevated, though retention cuts feeder placements in the short run.
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.
After 21 past bullish macro events, Feeder Cattle moved a median +0.2% over 5 sessions (62% higher; middle half -0.7% to +1.4%), and +2.4% 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.