California's Proposition 15 was failing with 72% of the votes in, while Colorado's Proposition 114 appeared as though it would pass by a narrow margin.
Californians will vote on Proposition 15, which is billed as tax reform, except neither side can agree on exactly what gets reformed. Farmers and ranchers are rightly wary of the repercussions.
All cattle and calves in the United States as of January 1, 2015 totaled 89.8 million head, 1 percent above the 88.5 million as of January 1, 2014. Prior to 2014, the U.S. cattle inventory had not been under 90 million
For the fifth straight month a record for Cattle on Feed was eclipsed after an increase of 5.2% since Oct. 1, 2017.
Cash fed cattle sold $1 to $2 higher, but yearling feeder cattle sold uneven at auction with steer and heifer calves trading $1 to $4 lower.
Proposition 15 threatened voter-approved tax protections for commercial and agricultural properties enacted under Proposition 13, which passed with two-thirds majority in 1978.
Fed cattle trades were few and far between last week, with most bids lower and packers seemingly uninterested.