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USDA ERS raised its 2022 forecast for commercial beef production by 195 million pounds to 27.57 billion pounds. February cow slaughter was up 12.2% year over year, largely due to a weather-disrupted base week in 2021, but remained below 2019 and 2020 levels.
A larger production forecast adds beef supply, which is mildly bearish for cattle prices, though cow slaughter trends still point to a tight herd.
agproud.comHannah Brooks, Christopher G. Davis, Russell KnightApr 25, 2022After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% 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.
