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USDA's cattle inventory found 30.13 million beef cows on January 1, 2022, down 2.3% year over year. Drought covering more than 61% of the contiguous US and high feed costs are driving herd liquidation toward 2014 lows.
Shrinking cow numbers point to tighter beef supplies ahead, which supports fed and feeder cattle prices, while drought and expensive feed raise cow-calf costs.
drovers.comGreg HendersonApr 27, 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.
