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USDA livestock economist Shayle Shagam says packers are mostly profitable while feedlots likely face negative margins. Feeder calf prices are down about $2 per hundredweight from a year earlier, leaving cow-calf operators near breakeven.
Drought has left Southern Plains hay supplies very short.
Thin feedlot and cow-calf margins and short hay supplies will shape whether the herd expands or liquidates, which drives future feeder cattle supply and feed demand.
brownfieldagnews.comNicole HeslipJul 24, 2018Not 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.
