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USDA ERS reports that 2018 beef production was cut by 75 million pounds on lighter December carcass weights and fewer slaughters. The 2019 beef production forecast was lowered by 175 million pounds to 27.6 billion pounds after the federal government shutdown delayed data.
A lower beef production forecast reduces expected supplies of beef and cattle, supporting cattle prices and tightening the outlook for by-product meal supply.
agproud.comRussell KnightMar 25, 2019After 227 past bullish report events, FCATTLE 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, LCATTLE 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.
