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CME live and feeder cattle futures fell on renewed worries that inflation-squeezed consumers cannot afford pricey cuts. Lean hog futures also declined on a seasonal lull and heavy supply, and USDA data showed lower boxed beef and pork cutout values.
Tyson's CFO said consumers are shifting toward chicken and ground beef.
Weaker demand for premium beef and pork and a shift toward cheaper proteins pressure cattle and hog prices, while supporting chicken demand. Producers have not yet rebuilt herds, so tight supply limits how far beef prices can fall.
thecattlesite.comMelanie EppSep 5, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
Demand worries as inflation-squeezed consumers shift to cheaper proteins plus lower boxed beef cutout weighed on cattle futures.
