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USDA's semi-annual Cattle report, released January 31, showed herd expansion through 2016 and continued increases in slaughter. Dressed weights have risen every year for five years, though the rate of gain slowed in 2016.
Expected higher slaughter and placements through 2017 point to ample beef supply, which is bearish for fed cattle prices and reduces demand for feed in the near term.
agproud.comKeithly JonesFeb 25, 2017After 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 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), 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.
