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Several factors have pressured live cattle prices in recent weeks, including packers slowing chain speed and skipping Saturday kills, a fire near a National Beef plant, record cattle placements in USDA's On Feed report, and avian influenza news. Packers are reportedly cutting slaughter to manage negative margins and back up supply.
Slower packer slaughter reduces near-term beef supply and gives packers leverage to discount heavier feeder cattle, pressuring live and feeder cattle prices. Record placements add future supply, weighing further on cattle futures.
prairiegrainpartners.comApr 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.
