Loading…
The USDA 5-market negotiated fed cattle price hit a record $172.33 per hundredweight on April 6, then $175.87 on April 7. Futures are priced for a seasonal dip into summer before rising late in the year.
Feedlot inventories are beginning to fall, which analysts expect to keep fed prices climbing.
Falling feedlot inventories and tight feeder supplies point to higher fed cattle prices than the seasonal futures curve implies. Buyers should expect firm cattle costs.
extension.okstate.eduApr 10, 2023
beefmagazine.comDerrell PeelApr 11, 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.
Record 5-market negotiated fed cattle prices on April 6-7 and falling feedlot inventories supported the bullish supply-driven futures rally.
Record negotiated fed cattle prices of $172.33 on April 6 and $175.87 on April 7, with falling feedlot inventories, point to continued upward pressure on futures.
Record cash fed cattle prices and falling feedlot inventories point to continued price strength, though the piece is mainly commentary.
