Negotiated fed cattle prices were $172.45 today, as buying was hurried by the Easter and Good Friday holiday. Prices this week have moved up considerably over last week, which were already at historic levels.
The fed cattle market likely will light an additional spark under the feeder cattle market. USDA has forecast feeder cattle prices to average $204 per hundredweight in 2023, which is higher than 2014’s record average of $198.94 per hundredweight and of 2015’s annual average of $197.31 per hundredweight, and so for this year, feeder cattle are running well above 2014.
What does all this mean for herd rebuilding? Normally, higher cattle prices would send a signal to expand the herd through higher calf production, but pr...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...