# Cows on the shrink: Near-record cattle prices sustained by drought conditions | Institutional Real Estate, Inc.

> US beef futures recently hit a record high, and the US cattle herd is at its smallest in eight years after drought-driven culling. Beef production is expected to fall by more than 2 billion pounds from 2023 to 2024. Demand has held up despite high prices.

- Date: 2023-08-25 · published 2023-08-25T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/34508-cows-on-the-shrink-near-record-cattle-prices-sustained-by-drought-conditions
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

A shrinking herd and falling beef output support cattle prices and reduce demand for byproduct feeds tied to cattle slaughter. Tight supply keeps feeder and fed cattle prices firm through the next year.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Sources

- irei.com: https://irei.com/publications/article/cows-on-the-shrink-near-record-cattle-prices-sustained-by-drought-conditions/

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