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Daily average five-market live fed steer prices hit a record $175.87 on April 7, above the late-2014 peak. Feeder steer prices also rose sharply in Georgia and the Southern Plains.
Packers continued to buy cattle as supplies tightened.
Tight cattle supplies and steady packer demand are pushing live and feeder cattle prices higher. Uncertainty over consumer beef demand and shrinking packer margins could limit further gains.
southernagtoday.orgDavid AndersonApr 11, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Record $175.87 five-market fed steer price on Apr 7 with packers still buying on tightening supplies supported futures higher.
Record five-market fed steer prices of $175.87 on April 7 showed tightening supplies and packer buying, a bullish fundamental that carried into the April 10 move.
