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The fed cattle market has stagnated since mid-July on small slaughter counts, with last week's $183 per cwt fed steer price the lowest since mid-July. Packer margins returned to profitability after dipping below breakeven in late July and August.
Boxed beef cutout values rose about 4.6% from the early August low.
Restricted slaughter supports fed cattle and beef values, which tends to sustain cattle feeding demand and feed use, though seasonal Labor Day buying drives much of the recent move.
feedlotmagazine.comPaul Dykstra, Certified Angus Beef Questions or comments about this article can be emailed to editorial@feedlotmagazine.com.Aug 31, 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.
