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Texas AgriLife economist David Anderson said fed cattle prices rose $4 to $5 per hundredweight in the week before March 2, 2017, due to strong domestic and foreign beef demand. Packers' good margins and grocery beef promotions drove higher bids to feedlots.
Warm, dry weather may have boosted grilling demand.
Stronger packer demand for fed cattle lifts cash prices and supports feedlot demand for feed. The spring rally in fed cattle values points to firmer beef-chain pricing.
agproud.comAdam RussellMar 2, 2017Not 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.
Fed cattle prices up $4-5 on strong beef demand and packer margins reinforce bullish cash fundamentals underlying the rally.
