Cash Strategist 2-14-2024
On Jan. 31, the U.S. Department of Agriculture (USDA) released its January edition of the biannual cattle report, which provides insight into the size of the U.S. cattle herd.
This year’s first of two reports showed all cattle and calves in the U.S. coming in at 87.2 million head. This would be down 2% from last year, as numbers have decreased year-over-year for the previous five years. The total calf crop was also estimated at the lowest level since 1948. Traders had assumed these numbers ahead of time, and there wasn't a lot of shock to the market following the report’s release.
The report also estimated the number of cattle on feed, and this is where it got interesting. While the total cattle herd was the lowest in some 70-plus years, the number ...
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