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USDA put cattle and calves on feed at 11.2 million head as of September 1, up 1% from a year ago. Accumulated January-August slaughter totaled 21.3 million head, down 3.6%, and commercial beef production fell 0.6%.
Tight slaughter supplies and lower beef output support cattle prices, though larger feedlot inventories limit the upside.
farmweeknow.comDANIEL GRANT FarmWeekSep 22, 2024After 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 44 past neutral report events, Feeder Cattle moved a median +0.3% over 5 sessions (59% higher; middle half -0.9% to +1.0%), and +0.5% 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.
