# Tight Supplies Expected to Boost Cattle and Hog Prices in 2024

> USDA's Livestock and Poultry Outlook, released February 15 at the Outlook Forum, forecasts 2024 commercial beef production down about 3% to 26.19 billion pounds. Cattle and hog prices are expected to rise on tighter supplies and strong demand, with feed costs seen cheaper.

- Date: 2024-02-16 · published 2024-02-16T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/31615-tight-supplies-expected-to-boost-cattle-and-hog-prices-in-2024
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A smaller beef supply and firmer hog demand support higher cattle and hog prices in 2024, while cheaper feed lowers producer costs. Buyers should expect firm livestock prices and somewhat easier feed input costs.

## Read by commodity

- CORN: bearish ▼
- HOGS: bullish ▲
- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2026-07-20 | [USDA Outlook Highlights Tight Cattle Supplies and Strong Beef Prices](https://feedsoft.ai/events/18489-usda-outlook-highlights-tight-cattle-supplies-and-strong-beef-prices.md) | -1.4% | -2.8% |
| LCATTLE | 2024-06-28 | [Heavy cattle weights mostly offset tight cattle supplies \| Ag Proud](https://feedsoft.ai/events/29895-heavy-cattle-weights-mostly-offset-tight-cattle-supplies-ag-proud.md) | -1.8% | -1.7% |
| LCATTLE | 2020-02-04 | [2020 Cattle Inventory—Herd Expansion Comes to an End - ProAg](https://feedsoft.ai/events/54543-2020-cattle-inventory-herd-expansion-comes-to-an-end-proag.md) | -1.0% | -7.7% |
| LCATTLE | 2023-04-12 | [Fed Cattle Supplies](https://feedsoft.ai/events/36532-fed-cattle-supplies.md) | +3.3% | -2.2% |
| LCATTLE | 2018-06-18 | [Cattle prices set to fall 8pc in 2018-19: ABARES - Beef Central](https://feedsoft.ai/events/64469-cattle-prices-set-to-fall-8pc-in-2018-19-abares-beef-central.md) | -1.6% | -2.5% |
| FCATTLE | 2026-07-20 | [USDA Outlook Highlights Tight Cattle Supplies and Strong Beef Prices](https://feedsoft.ai/events/18489-usda-outlook-highlights-tight-cattle-supplies-and-strong-beef-prices.md) | -0.2% | -1.5% |
| FCATTLE | 2020-02-04 | [2020 Cattle Inventory—Herd Expansion Comes to an End - ProAg](https://feedsoft.ai/events/54543-2020-cattle-inventory-herd-expansion-comes-to-an-end-proag.md) | -0.7% | -2.3% |
| FCATTLE | 2023-04-12 | [Fed Cattle Supplies](https://feedsoft.ai/events/36532-fed-cattle-supplies.md) | +1.9% | +1.9% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/livestock/article/2024/02/16/tight-supplies-expected-boost-cattle

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.