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Beef byproduct values have fallen from about $10.70/cwt in early 2018 to $8.88/cwt for the week of July 26, 2019. Byproducts have averaged 7.2% of fed cattle prices so far in 2019, below the roughly 10% long-run average.
Weaker drop credit lowers the total value of a fed steer, which pressures live cattle prices and feeder cattle values. Hide weakness is a sign of softer economic conditions.
feedstuffs.comJul 29, 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.
