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Fed cattle prices fell from an April peak of just over $128/cwt. to about $120/cwt., the lowest since December. Choice boxed beef has dropped about $10/cwt. over two weeks, with chuck and round cuts weak and beef exports down 5.7% year over year in March.
Softer fed cattle and boxed beef prices reflect weak middle-meat demand and slower export sales, which pressures feeder and live cattle values. Buyers may see lower cattle costs in the near term, though July 4 buying could firm cutout values.
tscra.orgWritten by: kristinMay 13, 2019Not 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.
