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Drought and high feed and forage costs have pushed Canadian and US beef cow herds to their smallest levels in many years. US beef cows stood at 30.13 million on Jan.
1, down 2.3%, and cow slaughter is running 14.6% higher than last year.
A shrinking cow herd and higher cow slaughter point to tighter beef supply, supporting higher feeder and fed cattle prices, though feed costs will determine producer margins.
producer.comD'Arce McMillanJul 28, 2022After 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 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 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.
