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A University of Nebraska beef economist discusses how drought, higher input costs and national herd liquidation are shaping cow-calf producer decisions. He notes prospective corn plantings are down as more growers shift to soybeans, which points to higher corn prices.
Continued herd liquidation and drought-reduced hay supplies tighten feeder cattle supply, while fewer corn acres could lift feed grain costs for buyers.
beef.unl.eduAug 1, 2022After 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.
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.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
