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Analysis of the January 1 cattle inventory shows beef cows down about 1% from last year, with the largest declines in the middle of the country as low calf prices led producers to sell cows. Average pre-report estimates had expected a decline of about 0.8%.
Fewer cows mean fewer calves and less beef in one to two years, which supports longer-term cattle prices and reduces feeder cattle supply.
agrilife.orgjustin.benavidezFeb 7, 2020After 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.
After 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.
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.
