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Fed cash cattle prices hit record levels in mid-April 2023, with the national weighted average steer reaching $180.29, above the 2014 high. April live cattle futures also made all-time highs on the continuation chart.
Analysts say the cycle differs from the last one as tight supply pulled prices ahead of the usual seasonal peak.
Historically tight supplies from drought-driven herd liquidation and a weather-delayed calf crop support higher cattle prices into peak demand season. Higher cattle costs raise feeding margins and the cost of beef-linked feed demand.
agweb.comApr 24, 2023Not 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.
