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NPR reports that steak prices have fallen for three straight months as severe drought forces some ranchers to send cattle to slaughter early. About 60% of US cattle are in drought-affected areas.
The early marketings are creating a temporary beef glut that is expected to reverse into higher prices later.
Drought-driven early slaughter adds short-term beef supply and depresses cattle prices now. Reduced herd numbers are likely to lift beef prices in coming periods, which matters for feed and cattle planning.
npr.orgScott HorsleySep 1, 2022After 18 past bearish weather events, Live Cattle moved a median +0.1% over 5 sessions (56% higher; middle half -0.7% to +0.9%), and -0.1% 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.
