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Oklahoma State's Cow-Calf Corner says drought has accelerated liquidation of the beef herd, with July beef cows down 2.4% and replacement heifers down 3.5%. Cattle on feed were 11.34 million head, only 0.4% above last year, and feedlot placements fell for a fourth month.
Shrinking replacement supplies and slowing feedlot placements point to tighter feeder cattle availability, supporting feeder and live cattle prices into the coming year.
extension.okstate.eduJul 25, 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.
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.
