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A Mississippi State extension economist says cattle market optimism is the highest since 2014-2015 because about 12% more beef cows and 5% more heifers were slaughtered in 2022. The resulting smaller calf crop is expected to tighten supplies in 2023, though high input costs and beef demand are risks.
A tighter cattle supply implies stronger fed and feeder cattle prices through 2023, while high grain costs remain a squeeze on feedlot margins.
u.osu.eduSmith atJan 4, 2023After 268 past bullish report events, LCATTLE 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, FCATTLE moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
