It’s been a wild ride in the cattle market since live cattle futures plunged off record prices earlier this year, but profitability could still be in the cards in the near term for cattle producers.
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Friday's jobs report was somewhat encouraging. More people with jobs is positive for meat demand.
U.S. Cattle on Feed Down 3%
Cattle and calves on feed for slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 10.8 million head on Oct. 1, 2010.
USDA made modest changes to 2017 beef projections in Friday's monthly WASDE release.
But a majority of the country is still covered by some form of drought.