Feedyard sales continue to slide lower though marketings are seen as current. Drought is forcing ranchers to trim their herds but cull cow prices are holding firm.
Current data on beef cow slaughter, combined with historical price performance of cattle markets after reaching an inventory low point, provides some insight for cattle price trends for the second half of 2022 and 2023.
Fed cattle prices weakened slightly following the long holiday weekend, but prices for feeder cattle and calves continue a contra-seasonal advance. Beef demand remains at a high level.
More than 45% of the contiguous US is currently in drought, with many parts of the southwest experiencing severe, extreme or exceptional drought. And no state has it worse than Texas.
The U.S. Supreme Court on Monday denied a petition by R-CALF USA for consideration of its legal challenge of the Beef Checkoff, effectively ending the case that began six years ago.
