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Strong November feeder cattle prices in Oklahoma drew more producer selling, with auction prices hitting record levels after Thanksgiving. The 500-pound steer price reached $360.99/cwt, and dry conditions also prompted larger weekly feeder sales in September and October.
Higher feeder prices encourage producers to sell more cattle, adding supply to the market, while dry conditions are prompting herd liquidation that may reduce future feed demand.
ziacommodities.comLester AldrichDec 27, 2024Not 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.
