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Federally inspected cattle harvest rose in the past two weeks to about 610,000 head, with packers operating well below capacity. Fed cattle prices weakened under heavy carcass weights, weak cutout values and a sharp drop in October live cattle futures in August.
October futures have since recovered to about $179/cwt from the August low.
Heavy carcass weights and weak cutouts cap fed cattle prices, while the futures rebound suggests the market is stabilizing. Limited packer capacity use keeps the pricing balance under pressure.
oklahomafarmreport.comAimee CarlisleSep 4, 2024Not 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.
