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International trade continues to be a drag on the U.S. beef market as the strong dollar and high U.S. beef prices make the U.S. an attractive market to sell into, but a less appealing place to buy from.
The negative global news of a slowing economy in China coupled with reduced beef supplies domestically has compounded struggles across the beef complex as well as across other commodities.
Cash cattle prices took a drubbing this week with fed cattle prices $4 to $5 lower at $144 to $145 per cwt. Dressed sales were reported $4 to $6 lower at $228 per cwt.
Beef packer margins jumped into the black last week while cattle feeders saw their margins improve $88 per head, according to the Sterling Beef Profit Tracker.
Beef packer profit margins continued to grow last week as the beef cutout jumped nearly $5 per cwt. and cash fed cattle prices declined another $2 per cwt.