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USDA NASS reported all US cattle and calves on January 1, 2024 totaled 87.2 million head, down 2% from a year earlier. Beef cows fell 2% to 28.2 million head, and the calf crop was down 2%.
Cattle on feed for slaughter rose 2% to 14.4 million head.
A shrinking herd and smaller calf crop tighten future beef supplies and support cattle prices. The modest rise in cattle on feed partly offsets the tightness in the near term.
doi.orgFranken, JasonJan 1, 2024
agweb.comMichelle RookFeb 1, 2024
bloomberg.comGerson Freitas Jr.Jan 31, 2024
dtnpf.comDTN StaffFeb 5, 2024dtnpf.comDTN StaffJan 31, 2024Not enough comparable past events yet for a historical read.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 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.
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.
