# U.S. livestock: Cattle futures rise on cut in beef production estimate - AgCanada

> USDA's October supply and demand report cut its 2018 beef production forecast by 150 million pounds to 26.9 billion pounds and trimmed pork and corn and soybean production estimates. Cattle futures rose on the news while lean hog futures extended losses.

- Date: 2018-10-12 · published 2018-10-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/62669-u-s-livestock-cattle-futures-rise-on-cut-in-beef-production-estimate-agcanada
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A smaller USDA corn and soy crop leaves less grain for feed, which may push livestock producers to buy feed sooner, and tighter beef supply supports cattle prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- HOGS: bearish ▼
- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| HOGS | 2018-10-14 | 1 | -9.1% | -6.1 | The USDA October report (Oct 12) trimmed pork production estimates and was reported alongside lean hog futures extending losses, directly tying to the selloff just before the move window ended. |
| HOGS | 2018-10-18 | 5 | -14.4% | -3.7 | The Oct 12 USDA report trimmed pork production estimates yet lean hog futures extended losses that day, showing bearish momentum early in the 5-day window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2021-01-25 | [Production estimated lower in 2021 on reduced slaughter - Progressive Cattle \| Ag Proud](https://feedsoft.ai/events/49287-production-estimated-lower-in-2021-on-reduced-slaughter-progressive-cattle-ag.md) | -0.9% | +1.6% |
| LCATTLE | 2020-06-15 | [Cattle prices to rise as production, exports fall: ABARES - Beef Central](https://feedsoft.ai/events/52571-cattle-prices-to-rise-as-production-exports-fall-abares-beef-central.md) | -4.3% | -5.9% |
| LCATTLE | 2023-06-30 | [U.S. livestock: CME nearby hog futures up ahead of herd data - AgCanada](https://feedsoft.ai/events/35639-u-s-livestock-cme-nearby-hog-futures-up-ahead-of-herd-data-agcanada.md) | -1.1% | +0.5% |
| LCATTLE | 2023-04-25 | [Beef production raised on higher fed cattle slaughter \| Ag Proud](https://feedsoft.ai/events/6723-beef-production-raised-on-higher-fed-cattle-slaughter-ag-proud.md) | -3.1% | -3.6% |
| LCATTLE | 2018-11-21 | [U.S. livestock: Cattle futures rally after bullish USDA data - Grainews](https://feedsoft.ai/events/62167-u-s-livestock-cattle-futures-rally-after-bullish-usda-data-grainews.md) | +1.5% | +4.2% |
| FCATTLE | 2021-01-25 | [Production estimated lower in 2021 on reduced slaughter - Progressive Cattle \| Ag Proud](https://feedsoft.ai/events/49287-production-estimated-lower-in-2021-on-reduced-slaughter-progressive-cattle-ag.md) | +0.3% | +1.5% |
| FCATTLE | 2023-06-30 | [U.S. livestock: CME nearby hog futures up ahead of herd data - AgCanada](https://feedsoft.ai/events/35639-u-s-livestock-cme-nearby-hog-futures-up-ahead-of-herd-data-agcanada.md) | +1.3% | +1.3% |
| FCATTLE | 2023-04-25 | [Beef production raised on higher fed cattle slaughter \| Ag Proud](https://feedsoft.ai/events/6723-beef-production-raised-on-higher-fed-cattle-slaughter-ag-proud.md) | +3.5% | +2.0% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-livestock-cattle-futures-rise-on-cut-in-beef-production-estimate

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.