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Market specialists expect beef prices to decline, with finished cattle prices having fallen over recent weeks. USDA's Cattle on Feed report showed cattle placed early out of the Southern Plains because of drought.
Early placements and drought-driven marketing reduce feedlot supplies ahead, pressuring fed cattle prices, while lower beef prices could weigh on retail demand. Feed buyers should expect softer cattle values this summer.
iowaagribusinessradionetwork.comStaff EditorMay 31, 2018After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
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.
