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.
After higher prices to start the new year, feeder cattle sold uneven at auction this week amid heavy supplies.
Feeder cattle up 3rd straight session and lean hog contracts notch fresh highs.
Live cattle traded for $160 to $161 to end last week, while beef prices were up from the previous week.
Cash cattle prices lost another $2 per cwt. last week, a decline of $7 over two weeks. Coupled with higher input costs on feeder cattle, the decline feedyards with an average $22 per head loss last week.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
The August 2017 Feeder Cattle futures contract increased by $7.66/cwt. during November.