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Reuters reports that the US cattle herd has shrunk to its smallest since 1962 as drought and high feed costs pushed producers to send animals to slaughter. Feedlot operators have gained leverage over meatpackers such as Tyson in sales negotiations.
A smaller supply of cattle tightens slaughter volumes and shifts margin pressure onto packers, which supports cattle prices while squeezing packer profitability.
reuters.comTom PolansekMay 4, 2023Not enough comparable past events yet for a historical read.
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.
