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Cattle futures have regained nearly all of their late-2023 losses in early 2024, supported by the smallest US cow herd since 1972 per the January Cattle Inventory report. Recent USDA Cattle on Feed data came in near expectations, with placements below estimates.
Tight cattle supplies support prices, but the lack of a strong rally signal suggests limited upside near term. Weak placements point to reduced feed demand.
agriculture.comMar 26, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
