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USDA's Outlook Forum projects U.S. fed cattle prices averaging 10.1% higher in 2023, at $159/cwt, as the cattle herd shrinks further. Hog and poultry prices are forecast lower as swine and broiler output rises, and total red meat and poultry production is set to dip slightly.
A smaller cattle herd tightens fed cattle supply and supports live and feeder cattle prices, while rising pork and chicken output weighs on those meat prices and reduces demand for feed from those sectors.
dtnpf.comChris ClaytonFeb 23, 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.
After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
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.
