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Oklahoma Extension economist Derrell Peel expects cattle prices to keep rising, with 500-pound steers reaching $4 per pound, fed cattle over $2, and cull cows over $1 before prices plateau. He anticipates beef cow slaughter will fall 15-20% in 2024 as herd rebuilding gets underway.
Persistently tight herd numbers and falling cow slaughter support higher cattle prices and reduce beef supply, underpinning strong feeder cattle demand.
hpj.comLacey VilhauerMar 1, 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.
