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A Texas A&M AgriLife economist says drought has forced Texas producers to cull cattle earlier and deeper than normal, leaving few replacement heifers. He expects post-drought herd recovery to take longer than after the 2011 drought and calf prices could approach 2014 records.
Heavier culling and few replacement heifers point to tighter calf and beef supplies for years, supporting feeder cattle prices and reducing feedlot demand for grain.
agrilifetoday.tamu.eduAdam RussellJul 27, 2022After 79 past bullish weather events, FCATTLE 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, LCATTLE moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% over 20.
After 445 past neutral weather events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% 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.
