John T. Barone, president and commodities analyst for Market Vision Inc.
Friday’s USDA annual inventory report showed that total cattle and calf numbers declined for the seventh consecutive year. At 87.7 million head, cattle numbers fell 2 percent from a year ago and are the lowest since 1951. The report was much anticipated since the sequester budget cuts eliminated the USDA’s midyear inventory report, making this the first actual herd count we’ve seen since Feb. 2013. The one positive number in the report was for beef replacement ...
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