Loading…
USDA's January 1, 2023 cattle inventory put the U.S. beef cow herd down 3.6%, the smallest since 1962, after a 11% rise in beef cow slaughter in 2022. Replacement heifers fell 6%, which points to a further shrinkage of the beef cow herd this year.
A shrinking beef cow herd and fewer retained heifers signal tighter feeder and fed cattle supplies in coming years, supporting cattle prices.
u.osu.eduSmith atFeb 8, 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.
