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USDA's NASS reported April cattle slaughter of 2.85 million head, up 27% from a year earlier, with beef production up 29%. The Cattle on Feed report put May 1 inventory at 105% of a year ago, the second-highest May 1 level since 1996.
Heavy slaughter and large feedlot inventories add supply to the fed cattle market, which pressures cash prices and weighs on feeder demand. The data point to ample near-term beef supplies.
capitalpress.comStaff ReportsMay 28, 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.
