◂ Event Timeline

Nov 24, 2021REPORTUS

Higher cow slaughter and carcass weights raise 2021 beef production forecast - Progressive Cattle

USDA ERS raises its 2021 beef production forecast, citing heavier cattle carcass weights and cow slaughter running about 6% to 7% above 2020 levels. Weaker dairy margins and drought concerns are driving the higher cow culling.

WHY IT MATTERS

Heavier carcasses and extra cow slaughter add beef supply, which is bearish for cattle prices in the near term.

AFFECTSLive Cattle▼

SOURCE
agproud.comHannah Brooks, Christopher G. DavisNov 24, 2021

Price reaction & history

Live Cattle▼bearishSO FAR1d +0.9%5d +2.1%20d +1.7%

After 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.

Dec 24, 2021Beef production up on expected heavier dressed weights and higher fed cattle slaughter - Progressive Cattle | Ag Proud+0.1%
Feb 25, 20172016 beef production bolstered by increased slaughter, higher dressed weights - Progressive Cattle | Ag Proud-1.3%
May 24, 2019Higher expected cow slaughter partly offsets lower weights - Progressive Cattle | Ag Proud-1.4%
Apr 25, 2022Beef production continues to be down in 2022 - Progressive Cattle | Ag Proud+0.5%
Feb 25, 2020Pace of slaughter stays strong in fourth-quarter 2019 - Progressive Cattle | Ag Proud-5.0%

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.

Live Cattle LCATTLE · GP ▸

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