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The USDA January 1 report puts total US cattle at 94.4 million head, down 0.4% year on year, with beef cattle down 1.2%, the first decline since 2014. Cattle on feed reached 14.7 million head, the highest since 2008, and US beef exports are forecast to rise 9% in 2020.
A shrinking herd points to lower beef output later, but record feedlot numbers and rising exports keep near-term supply heavy, with implications for cattle prices and competition with Australian beef.
mla.com.auFeb 6, 2020After 78 past neutral report events, Live Cattle moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% over 20.
After 44 past neutral report events, Feeder Cattle moved a median +0.3% over 5 sessions (59% higher; middle half -0.9% to +1.0%), and +0.5% 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.
