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Oklahoma State economist Derrell Peel reports that January Choice retail beef averaged $575.8 per cwt and Choice boxed beef reached $209.88, up 10.9 percent year over year. Cash fed cattle reached $129 and Oklahoma feeder prices ran 15-16 percent above last year, with beef production expected up 4.5-5.0 percent in 2018.
Strong boxed beef and cash cattle prices support the cattle complex, but rising beef output and larger feedlot inventories point to pressure later in the year.
tscra.orgWritten by: kristinFeb 19, 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.
