Feedlots are holding cattle longer, with the marketings rate at a record-low 14.0% and placements down about 200,000 head per month. Strong Texas and Oklahoma rains and abundant grazing are limiting replacement supply, and the Columbus, NM port has reopened to Mexican cattle.
USDA began publishing a new negotiated cash cattle report on October 26, and China suspended beef imports from one Brazilian plant.
Tight placements and a shortage of replacement cattle support live and feeder cattle prices and raise feeding costs for buyers. Slow reopening of Mexican imports and screwworm risk add uncertainty to the supply outlook.
Not 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.