Return of US drought delays cattle-herd rebuilding, hurting Tyson Foods

After 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.

• Nov 10, 2021The Cycle of Drought, Cowherd Liquidation and Higher Feeder Cattle Prices+0.7%
• Aug 18, 2021US drought could have implications for beef exports | The Cattle Site+1.9%
• Jul 28, 2022Fewer cattle expected as cow herds shrink due to drought | The Western Producer-0.1%
• Nov 13, 2022All Drought, No Cattle: Low herd supply may drive record-high prices next year+0.8%
• Feb 12, 2018Drought relief expected to help grain and cattle outlook - High Plains Journal+1.5%

After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.

• Jun 3, 2019Delayed corn planting hits feeder cattle-1.9%
• Jul 28, 2022Fewer cattle expected as cow herds shrink due to drought | The Western Producer+2.8%
• Nov 13, 2022All Drought, No Cattle: Low herd supply may drive record-high prices next year+2.6%
• Aug 9, 2022Coping with high feed prices, drought in 2022 | The Cattle Site+2.0%
• Jul 31, 2023Drought spreads in US Corn Belt ahead of July's scorching finish-11.7%

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.

• Nov 10, 2021The Cycle of Drought, Cowherd Liquidation and Higher Feeder Cattle Prices-1.4%
• Aug 18, 2021US drought could have implications for beef exports | The Cattle Site+1.3%
• Jul 28, 2022Fewer cattle expected as cow herds shrink due to drought | The Western Producer+0.1%
• Nov 13, 2022All Drought, No Cattle: Low herd supply may drive record-high prices next year+2.2%
• Aug 9, 2022Coping with high feed prices, drought in 2022 | The Cattle Site-0.7%