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Fed cattle prices are at least $10/cwt above the November 2014 record of $172.06/cwt, yet feeding margins remain narrow. Higher labor costs and interest rates from Federal Reserve hikes since early 2022 are squeezing returns for cattle finished in October 2023.
Narrow feeding margins limit how many cattle feedlots will place, which tempers future feeder demand and the grain and feed purchases tied to it.
beef.unl.eduNov 1, 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.
