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USDA ERS economists raised their 2021 US beef production forecast by 53 million pounds, citing heavier carcass weights and faster fed cattle slaughter. The 2022 production forecast was also revised slightly higher.
Cow slaughter is running faster than a year earlier.
Higher beef output from heavier carcasses adds supply to the market, which weighs on cattle prices. Feedlot cattle demand may soften as slaughter pace picks up.
agproud.comHannah Brooks, Christopher G. Davis, Russell KnightDec 24, 2021After 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.
