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USDA NASS's July Cattle report showed 98.8 million head of cattle and calves on U.S. farms as of July 1, 2022, down 2% from a year earlier. Beef cows totaled 30.4 million, down 2%, and milk cows fell to 9.45 million.
A shrinking breeding herd tightens future beef and feeder cattle supplies, supporting higher cattle prices and a longer-term demand pull for feed grains is limited by the reduced cattle numbers.
drgnews.comDRG Media NewsJul 23, 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.
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.
