Fed cattle post $2 to $3 per cwt. gains.
Most of 2014 saw record high prices, but the downward trend in the beef and cattle markets looks like it could carry into the New Year.
State from Iowa officials on Friday approved tax credits for developers to reopen a long-closed meatpacking plant in Tama that would eventually employ about 600 workers.
Commentary from Jerry Gulke, Strategic Marketing Services, Chicago
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
A long-idle beef processing plant is getting ready to reopen in Tama, Iowa, later this month.
Live cattle futures climbed to a near two-month high on Wednesday, rising for the third straight session on firm beef prices and investment fund buying, traders and analysts said.
Both cattle feeding and packer margins held firm at solidly profitable levels.