Loading…
USDA reported 28.9 million beef cows as of Jan. 1, down 3.6% from a year earlier, the smallest herd for that date in 61 years.
Analysts said falling cattle supplies will keep meat prices high for consumers.
A shrinking breeding herd reduces future calf and feeder supply, which supports cattle prices and keeps demand for feed tight over the coming years.
reuters.comTom PolansekJan 31, 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.
