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An industry analyst expects the US cattle inventory to fall about 1% at the start of 2020 after producers reduced herd numbers in 2019. Beef cow slaughter rose 3% through October, and total cow slaughter is forecast to drop 4% in 2020 due partly to stronger milk prices.
Smaller herds and lower cow and heifer slaughter tighten beef supply, which supports live and feeder cattle prices into 2020.
capitalpress.comCAROL RYAN DUMASCapital PressNov 13, 2019After 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.
After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
