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Analyst Timothy Wier, citing Canfax's Brian Perillat, says U.S. cattle prices have stayed low despite strong beef cutout values of $350-360. Drought has raised feed costs and producers face difficult decisions on feed and marketing.
The beef-to-pork price ratio has risen because of pork market disruptions linked to African swine fever in China.
Low cattle prices combined with drought-driven feed costs squeeze feedlot margins and can slow placements, which affects demand for feed grains and byproducts.
thecattlesite.comOct 27, 2021Not 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.
