This week’s cattle trading was quite a deal. Trading occurred in the Southern Plains at $164 and $165. That was wildly better than last week’s $155 and $156 trade. A $9 higher trade in one week beats all of this year’s amazing one-week moves.
This afternoon the monthly Cattle on Feed was released. USDA’s survey found 6.2% fewer placements in the month of June than last year. That was a little under the average guess of a 4.4% decline. It was close to ALDL’s 7.2% lower estimate. June placements impact November through February slaughter levels. This now makes it four months in a row of lower numbers….
Login to view this entire report, or click here to try our premium product, free