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Derrell Peel's Ohio Beef Cattle Letter reports year-to-date beef production up 3.6 percent, with cattle slaughter up 3.8 percent and cow slaughter up 8.1 percent. Carcass weights are higher than last year, and boxed beef prices have softened after holding firm through May.
Higher slaughter and heavier carcasses increase beef supply, which pressures cattle prices and reflects weaker demand for beef relative to supply.
u.osu.eduSmith atJun 27, 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.
