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Ohio BEEF Cattle Letter, citing Matthew Diersen, notes that feedlot placements in recent months were lower than a year earlier, especially for heavier feeder cattle. Cow slaughter was very high in 2022 but is now slowing, while heifer mix on feed was at a record high.
Lower placements and slowing cow slaughter indicate tighter near-term beef supplies, supporting fed and feeder cattle prices.
u.osu.eduSmith atApr 12, 2023After 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.
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.
