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USDA's January 1, 2022 inventory showed overall cattle numbers down 2% to 1,887,700 head from 2021, with cow inventory at 30.1 million head, down 2.3%. Commercial slaughter and rising steer prices, now about $138, were also highlighted, with inflation and input costs weighing on producers.
A shrinking cow herd and lower calf crop point to tighter beef and feeder supply, supporting cattle prices through the cattle cycle.
northernag.netColter BrownMay 25, 2022After 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.
