The number of cattle entering feedlots is down 1.6% compared to last year at 10.59 million head on June 1.
Report mildly bearish for CME live cattle futures.
Cattle prices have been put on ice with markets falling off a bit.
Read more about succession planning and Farm Journal Media''s Legacy Project.
After hitting a low price of $97.75 per cwt in mid-October, cash fed cattle prices rallied $13 per cwt by the end of November, a 12% increase.
During the past decade, the highest monthly average has occurred in November four times and in March four times, peaking in December and February the other times.
Cattle feeders recorded their seventh consecutive week with positive closeouts, maintaining profits north of $150 per head for the week ended Jan. 6.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.