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Texas feeder steer prices averaged $145 per hundredweight, about $5 below last year and $33 below the five-year average. The Texas beef herd reached an eight-year high of 4.65 million head.
An August fire at a Kansas meatpacking plant, which handled 6% of US fed cattle capacity, added to the price decline.
A large, growing cattle herd combined with reduced packing capacity keeps fed and feeder cattle prices under pressure, which lowers the cost of cattle-based feed demand but signals weak producer margins.
proag.comSep 26, 2019Not 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.
