The amount of beef in cold storage at the end of October was up 34% from a year ago.
Closeouts on cattle and hogs marketed last week remain modestly profitable for the sixth consecutive week, according to calculations by Sterling Marketing.
Cattle and hog finishing margins remain positive for the sixth consecutive week, but cash prices for both declined modesty last week and margins eroded.
Fed cattle prices were sharply lower this week on good volume.
Live cattle futures reversed early strength to post new lows for the move and a new low close since Dec 21.
This is New Year's week and the number of cattle reports is smaller than normal.
We are now fully transitioning into a primary calf selling time of the year for cow-calf producers and into an active buying time for stocker producers.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.