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Oklahoma State extension reports producers are selling most steers and heifers to capture strong fall cattle prices, with drought limiting pasture and hay. Feeder cattle prices have dropped 9-10% since September but remain 33-35% above last year.
Heavy producer selling adds feeder supply while drought forces herd liquidation, which keeps the cattle cycle tight. Recent price corrections in feeder and live cattle futures signal softer near-term prices.
extension.okstate.eduNov 13, 2023Not 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.
