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Kansas State economist Glynn Tonsor said cash cattle prices have strengthened over recent months as supplies tighten. Wholesale boxed beef composite is up about four dollars since early January, with the rib down 15% while other primals are flat or higher.
He also noted restaurant traffic has softened under inflation pressure.
Tight cattle supplies are the main driver of higher cash prices, which support futures. Softer restaurant demand is a modest offset on beef values.
oklahomafarmreport.comSpencer AndersonApr 11, 2023Not 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.
