Potential Cattle Slaughter Supply Declines

USDA reported the potential feeder cattle dropped by one million head over the last year. We have scattered the price range for the June finished cattle contract as a function of the potential feeder supply. The projected price range is the same as we provided in our January 25, 2023 post.

Note we define the potential US feeder cattle supply on January 1 as all steers over 500 pounds, heifers not intended for breeding and calves under 500 pounds. We include cattle already in feed lots and cattle & calves on pasture.