The fed cattle market has brought to fruition the results many suppliers have been bracing for. The slippery slope from record cutout values has developed into a further weakening of fed cattle prices.
USDA’s Cattle Report shows the expansion stage is coming to an end.
The total inventory as of January 1 is 94.4 million head, down slightly from 94.8 million head a year ago. It’s not a surprise to industry.