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The USDA October World Markets and Trade report estimates 2027 global beef output near 60 million tonnes, flat with the current year, with declines expected in Brazil, Australia, the US and the EU. US cattle on feed hit record lows for September placements and marketings, and the October WASDE cut 2026 US beef production to 24.8 billion pounds.
Tightening beef supply from major exporters and record-low US feedlot inventories support cattle prices and could firm demand for substitute proteins such as chicken and pork, while reducing byproduct supply like meat and bone meal.
farmersjournal.iePhelim O'NeillNov 1, 2026After 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 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.
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.
