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USDA data show the US beef cow herd fell to 30.1 million head on January 1, down 2% and the lowest since 2015. Drought reduced pasture in the western US and Plains, pushing ranchers to send more cows to slaughter, and labor shortages also limited packing plant throughput.
Fewer beef cows and reduced heifer retention mean less future beef and calf supply, supporting cattle prices. Drought-driven liquidation also signals tighter feeder supplies ahead.
agweek.comTom Polansek, ReutersFeb 1, 2022After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% 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.
