Cash fed cattle prices ended last week $10 per cwt. lower than last year while the beef cutout closed $16 higher than the same week a year ago. The result? Packer margins $314 per head more than last year.
The onset of the COVID-19 hit the livestock industry especially hard. A sudden loss of demand caused prices to plummet. But thanks to the ability to pivot quickly, livestock producers showed resilience in 2020.
Cattle feeders gained enough leverage to push negotiated cash cattle prices higher during both holiday weeks as 2020 drew to a close. Supplies of fed cattle will tick lower during the first quarter of 2021.
The editors at AgWeb.com are looking at experts’ projections for commodities in 2021 to help you succeed in the coming year. Here’s a look at what analysts expect for the upcoming year in the protein segments.
Fed cattle treaded steady in the South to weaker in the North, with wholesale beef prices posting additional declines for the week. Friday's cattle on feed report was as advertised and will be viewed as neutral.