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FAPRI's baseline update projects U.S. beef production plateauing at 28.32 billion pounds in 2021 before declining to 28.01 billion in 2023. Feeder steer prices are forecast to fall to $141.06 in 2020 before recovering to $162.14 by 2023.
Peak beef cow numbers are expected in 2019 at 31.8 million head.
Rising beef output through the early 2020s points to cyclical pressure on cattle prices, which weakens demand for feed grains and byproducts from the cattle sector over time. Strong quality demand should limit the size of the decline.
beefmagazine.comWes IshmaelSep 25, 2018After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% 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.
