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AHDB analyst Rebecca Wright says about a third of the US cattle herd is in drought areas, with many pastures in poor condition and cow and heifer slaughter rising early. USDA data show beef cows down 2% and replacement heifers contracting, while dairy herd is expanding.
US beef production is forecast at 12.7 million tonnes, with exports expected to grow.
Drought-driven early slaughter and rising feed costs tighten future cattle supplies, supporting higher cattle prices, while export growth adds demand for US beef.
thecattlesite.comAug 18, 2021After 80 past bullish weather events, Live Cattle moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% over 20.
After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% over 20.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
