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USDA's mid-year Cattle inventory report put the July 1 all cattle and calves total at 103.2 million head, 1% above a year earlier. The herd has grown since 2014, when it bottomed at 95.7 million head.
The article also covers the July Cattle on Feed and Livestock Slaughter reports and the trade tariffs weighing on markets.
A growing herd and calf crop add future beef supply, which tends to pressure cattle prices over time. Tariff uncertainty adds risk to export demand for beef.
doi.orgJames Mintert, Mintert, JamesJan 1, 2018After 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.
After 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.
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.
