Three drought years expected to push US cattle inventory to 72-year low

After 80 past bullish weather events, Live Cattle moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% over 20.

• Nov 2, 2022Terrain | Drought-forced Cattle Movement Expected to Impact Markets into 2023+0.4%
• Feb 12, 2018Drought relief expected to help grain and cattle outlook - High Plains Journal+1.5%
• Aug 18, 2021US drought could have implications for beef exports | The Cattle Site+1.9%
• Jul 28, 2022Fewer cattle expected as cow herds shrink due to drought | The Western Producer-0.1%
• Nov 10, 2021The Cycle of Drought, Cowherd Liquidation and Higher Feeder Cattle Prices+0.7%

After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% over 20.

• Feb 12, 2018Drought relief expected to help grain and cattle outlook - High Plains Journal+2.4%
• Aug 18, 2021US drought could have implications for beef exports | The Cattle Site+1.3%
• Jul 28, 2022Fewer cattle expected as cow herds shrink due to drought | The Western Producer+0.1%
• Nov 10, 2021The Cycle of Drought, Cowherd Liquidation and Higher Feeder Cattle Prices-1.4%
• Mar 27, 2025Scientists expect more drought this year in parts of the Midwest and Great Plains | NPR Illinois+0.7%