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Canfax reports the Canadian cattle herd rose 0.2% on July 1, 2021, to 12.29 million head, the first increase since 2017. Beef exports have surged on strong consumer demand, supporting fed and feeder cattle prices despite record grain costs.
A growing herd adds future supply, but strong beef demand and exports are keeping cattle prices firm for feeders in the near term.
canadiancattlemen.caCanfaxNov 17, 2021After 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.
