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USDA-NASS mid-year cattle estimates showed all cattle and calves down just under 2% and beef cow inventory down 2.4%. Beef cow slaughter ran 14% above 2021 levels, and heifer retention fell about 3.5%, pointing to a shrinking cowherd.
A smaller beef cow herd and reduced heifer retention limit future beef supply, which supports higher cattle prices in coming years.
u.osu.eduSmith atAug 3, 2022After 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.
