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Beef Central reports that US feeder cattle prices have risen far above Australian feeder prices, with the CME feeder index near US$245.6/lb and up 37% year on year. The rise follows a drought-driven liquidation of the US herd that has left cattle supplies short.
A drought-driven US herd shortage keeps feeder cattle prices at record highs and the gap with Australia wide, which supports US feeder demand and grain demand for feeding.
beefcentral.comJon CondonAug 23, 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.
