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...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
