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.
Packers were reluctant to raise bids on fed cattle, creating sparse trading activity.
On Feed seen higher than year-ago, with Placements lower.
On Feed and Placements seen below year-ago, while Marketings up from year-ago.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
As of July 1st, USDA’s National Agricultural Statistics Service (NASS) estimated that the total U.S. cattle herd was the largest since 2008.
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.
USDA's Cattle on Feed and Cattle Inventory Reports reflected building supplies.