Extension specialists say ranchers facing drought should always plan to destock sooner rather than later as prices in a drought region will become depressed.

Cattle feeders saw prices erode last week and have a summer slump in sight with large on-feed inventories and increasing costs of gain.

The U.S.-China trade war began in July 2018 when the Trump administration imposed tariffs on $550 billion worth of Chinese goods. Nearly four years later, the debate remains as to which country actually won.

Negotiated cash cattle prices were $2 softer last week in a moderate to active trade. Friday’s Cattle on Feed report reported an inventory of 12.0 million head, up 2% from last year while a 1.3% decline was anticipated.

Senators call on the Federal Trade Commission Act of 1914 (FTC Act) to dive into the antitrust allegations against “The Big 4” including Tyson Foods Inc., Cargill, JBS SA and National Beef Packing Co.

U.S. diesel prices are the highest ever, with warnings of shortages, especially in the eastern U.S., and the most intensive part of the farming season is still ahead.