USDA outlook for the Cattle Market – 10/12/2020

The USDA provided quarterly beef production and price  estimates for the next year in the October WAOB report. We have expressed the aggregate supply estimates as per capita domestic beef supply for the period October 2020  through September 2021 and averaged the price forecasts for the same period The accompanying scatter study uses the per capita beef supply as a barometer of finished cattle price in Nebraska. Note that the USDA’s estimates fall directly on the regression line. Live cattle futures quotes are presently about in  line with the USDA price forecast.