As drought tightened cattle production, 2023 markets soared

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.

• Feb 12, 2018Drought relief expected to help grain and cattle outlook - High Plains Journal+1.5%
• May 13, 2022Cattle industry takes center stage in May - High Plains Journal-0.4%
• Nov 2, 2022Terrain | Drought-forced Cattle Movement Expected to Impact Markets into 2023+0.4%
• Jun 24, 2022Drought conditions pull cattle forward in 2022; limited cattle supplies draw down 2023 production - Progressive Cattle | Ag Proud+1.3%
• Jul 28, 2022Fewer cattle expected as cow herds shrink due to drought | The Western Producer-0.1%

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.

• Feb 12, 2018Drought relief expected to help grain and cattle outlook - High Plains Journal+2.4%
• May 13, 2022Cattle industry takes center stage in May - High Plains Journal-1.8%
• Aug 9, 2022Coping with high feed prices, drought in 2022 | The Cattle Site-0.7%
• Jun 24, 2022Drought conditions pull cattle forward in 2022; limited cattle supplies draw down 2023 production - Progressive Cattle | Ag Proud-0.7%
• Jul 28, 2022Fewer cattle expected as cow herds shrink due to drought | The Western Producer+0.1%