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USDA's Economic Research Service published its July 2023 Livestock, Dairy, and Poultry Outlook. The outlook analyzes how the month-to-month changes in the WASDE report affect beef, pork, lamb, poultry, eggs and dairy markets.
It also includes a special article on US beef imports.
This is a routine government analysis of the WASDE revisions, with no new supply shock. Its effect on prices is limited to confirming the direction already set by the WASDE.
ers.usda.govJul 18, 2023After 630 past report events, Live Cattle moved a median +0.1% over 5 sessions (54% higher; middle half -0.9% to +1.1%), and +1.1% over 20.
After 413 past report events, Feeder Cattle moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.9% 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.
