Use the chart below to check futures prices for commodities. Click the links for pricing on grains, livestock, oil and more and stay on top of what's going on in the markets. Cash price reflects the USDA Chicago terminal.
USDA's mid-year inventory totals suggest that the U.S. cattle herd has reached a plateau. I contrast a plateau with a more typical cyclical peak inventory that historically has implied a liquidation phase to follow.
Uncertainty plagues cattle markets with broader trade and political strife augmented by evolving feed market conditions. How much higher corn will go depends on acreage and yield, both uncertain at this time.
Total federally-inspected beef production was 12.1 billion pounds in the first 24 weeks of 2019, up just 0.7 percent from the same period last year. That is an average production of 502.4 million pounds per week.