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Finished cattle prices fell from a late-March high near $140/cwt to the mid-$120s, a drop much larger than the seasonal norm. June live cattle futures fell from $131.35 to about $115 by the end of April.
Beef output is up about 3%, driven by higher cattle numbers and heavier weights.
Rising beef supply and faster slaughter put sustained downward pressure on cattle prices, and the article expects further weakness into summer. Feeder buyers should expect lower fed cattle values to flow back to feeder cattle.
ag.purdue.eduSarah E ZahnMay 2, 2016Not 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.
Published on 5/2, it describes the oversupply (beef output up about 3%) and the price slide well beyond seasonal norms, which fits the continued selling and pessimism on the day.
