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University of Kentucky's Kenny Burdine said USDA's July cattle inventory showed flat beef cow numbers and beef heifer development down over 4%, suggesting the herd expansion phase may be ending. The 2019 calf crop was slightly smaller and cattle on feed remained above 2018 levels.
A halt in herd expansion tightens future cattle supply and supports prices over the medium term. Larger on-feed numbers add near-term pressure on feeder markets.
u.osu.eduSmith atAug 21, 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.
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.
