Loading…
Y. Hata's December 2023 update says beef prices remain elevated and consumer demand has fallen short of packer expectations, so supplies are adequate for the holiday season.
Packers have added Saturday shifts to clear a cattle backlog, and cattle are being kept on feed longer as grain prices are lower. Herd rebuilding has not started because of drought and high interest rates.
Tight herd numbers and holiday demand point to continued firm cattle and beef prices through the rest of the year, which supports feeder and live cattle values.
yhata.comMarketing DepartmentDec 19, 2023Not 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.
