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University of Kentucky's Kenny Burdine says feeder cattle markets have rallied since fall 2016, with August CME feeder futures near $150 on June 13. Local cash feeder markets have held firm and fed cattle have not shown their usual June weakness.
Beef exports are running well ahead of 2016, and expected trade with China is seen as supportive.
Stronger export demand and expected China access support cattle prices into the second half of 2017. Dressed weights running about 20 lb/head below 2016 also tighten beef supply.
u.osu.eduSmith atJun 21, 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.
