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Capital Press reports Oklahoma feeder steer prices rose 18.2% year over year for the week ending August 20, and fed steer prices were up 17%. USDA's Economic Research Service expects prices to level out this year and rise in 2023 as the beef herd contracts.
Robust slaughter and a shrinking herd with the lowest heifer retention since 1973 support higher cattle prices, which raises feeder and fed cattle costs for feedlots.
capitalpress.comCAROL RYAN DUMASCapital PressAug 23, 2022After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
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.
