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The UT Beef & Forage Center analysis of the January 1, 2023 cattle inventory report notes beef cow numbers fell one million head to 28.9 million, the lowest since 1962. Beef heifers held for replacement were about 5.2 million head, nearly 320,000 lower year over year, and the 2022 calf crop declined two percent.
A shrinking beef herd and fewer replacement heifers point to tighter cattle supplies and sustained high cattle prices, which support feeder and live cattle values for feedlot buyers.
utbeef.tennessee.eduMar 5, 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.
