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: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...