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Packers are struggling to lower cash fed cattle prices, which remain in the $180s in the North and $175 in the southern Plains at the end of July. Packers have cut slaughter as cutout values fall and they lose money, while thin cash trade in Texas, Oklahoma and New Mexico raises questions about formula base prices.
Packers cutting slaughter to protect the beef cutout reduces demand for fed cattle, which pressures cash prices even though feeder supplies remain tight.
wlj.netPete Crow, WLJ publisher emeritusJul 21, 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.
