Boxed beef prices increased about ten percent over the month of October into early November, a significantly higher increase than the normal seasonal bump.
Beef demand has remained remarkably strong since the beginning of the pandemic. Beef demand continues to be challenged with restricted food service, but retail grocery demand remains robust.
Summer doldrums hit the marketplace in between major grilling holidays.
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.
Producers seem to be feeling a bit of disbelief when it comes to current cattle markets, worrying about a sense that there is another shoe to fall.
Cattle imports for July were lower than a year ago, but the total for the first seven months of 2019 are higher.
Winter wheat pasture availability is helping to keep demand high for select stocker cattle weights.
No matter how cow-calf producers judge the past year – good, just okay or disappointing – there is value in taking some time to analyze the reasons for the outcome.