Oklahoma State extension data shows the January 1, 2018 US beef cow herd at 31.723 million head, nearly identical to 2009 levels. The herd liquidated through 2014 and has since recovered about 2.6 million head, with Texas partially rebuilding after a drought-driven decline.
A rebuilding cow herd means fewer cattle available for slaughter in coming years, which supports cattle prices over the medium term.
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.
After 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.
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.