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AgAmerica's market update notes that the US beef herd is at its lowest since 1951 while record carcass weights are adding beef supply. It says live cattle futures dropped $12 after bird flu was found in dairy herds, then recovered as prices rose.
Production is expected to pick up in the second half of the year.
A historically small herd keeps cattle prices firm, which raises feeder and finishing costs for feed buyers; bird flu concerns are a short-term risk to sentiment.
agamerica.comShelby BassMay 8, 2024Not 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.
