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Carcass weights reached record highs in April and May 2024 as Midwest feeders held cattle to recover weight lost to winter weather. Placements into feedlots fell 4.3% in the first four months of 2024 compared with a year earlier.
Heavier carcasses add beef tonnage while reduced feedlot placements tighten future cattle supply, supporting fed cattle prices into Q4. Lower feeder inventories also lower near-term demand for feed grains from feedlots.
terrainag.comJun 27, 2024After 28 past bullish macro events, Live Cattle moved a median -0.3% over 5 sessions (39% higher; middle half -1.2% to +0.9%), and +1.7% over 20.
After 21 past bullish macro events, Feeder Cattle moved a median +0.2% over 5 sessions (62% higher; middle half -0.7% to +1.4%), and +2.4% 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.
