Declining beef inventories are causing some to wonder how beef production can be maintained.
Feedlots surprised the industry with sharply higher than expected June placements.
Bullish fund holdings signal ‘change in sentiment’ for prices.
The cattle herd in Canada fell by 100,000 head with beef cows seeing the largest drop in herd numbers.
The latest USDA-NASS Cattle on Feed report pegged April 1 feedlot inventories at 11.96 million head, 102 percent of last year and a record April level for the data series, which started in 1996.
Significant numbers of stocker cattle are waiting in the wings this fall.