
The US beef cow inventory likely peaked in 2019 at 31.8 million head, with beef cow slaughter at an estimated 3.1 million head, the highest since 2013. Heifer slaughter also reached its highest level since 2010.
Analysts expect the herd to decline slightly in 2020 without significant liquidation.
A peaking cow herd and lighter carcass weights point to limited beef supply growth in 2020, which supports cattle prices. Feeder calf prices have been pressured by higher feed costs and more calves for sale.
After 268 past bullish report events, LCATTLE moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 44 past neutral report events, FCATTLE 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.