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Cattle prices have risen sharply in the first half of 2023, with the five-market fed cattle price averaging 30.3% higher year over year in June. Beef production in the first 24 weeks was down 4.9%, and yearling slaughter was down 3.0%.
The key question for the second half is how quickly producers rebuild herds.
Tight supplies and falling beef output support cattle prices, and feeder demand depends on whether herd rebuilding starts. Slower rebuilding would keep feeder cattle and feed demand firm.
beefmagazine.comDerrell PeelJul 3, 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.
