Both the fed cattle and beef cutout markets have taken a slight downturn, but things should turn around and head back towards record highs.
The average retail price of choice beef during February was $5.986 per pound.
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.
The winter precipitation and cold temperatures in the eastern part of the country have not been beneficial to beef cutout prices.
In the first sale of the year, April 20, the 150 Show-Me-Select replacement heifers averaged $1,555 per head. The bred heifers will calve this fall.
The cattle markets are on a slight decline, but it's still better than last year.
Beef prices have yet to find a price ceiling this year as new records continued to be broken.
The futures market is showing signs of finding a bottom but nothing is guaranteed.