Prairie beef farmers were forced to find new feed sources, learn new processes and make difficult decisions in managing their feed inventories in the past few years.
Chicago Mercantile Exchange (CME) live cattle futures closed lower on Thursday on technical selling as well as declines in Wall Street equity markets that raised concerns about consumer demand for beef, analysts said.
Chicago Mercantile Exchange (CME) live cattle futures turned higher on Tuesday on technical trading and as wholesale prices indicated that consumers demand for select cuts remained firm, traders said.
Thin volumes characterized action market activity last week, which resulted in a wide range of prices for feeders of similar weight. There were some larger packages trading via video for August and September delivery. There has also been some private fob ranch negotiations as feedlots secure upcoming volume.
Chicago Mercantile Exchange (CME) feeder cattle futures ticked higher on Monday and live cattle futures ended mostly lower, as the market struggled to find clear direction, traders said.
Chicago Mercantile Exchange (CME) lean hog futures turned higher on Thursday on a spate of bargain-buying, after the most-active August contract LHQ24 set a new low during the session, traders said.
CME live and feeder cattle futures turned lower on Tuesday as cutout values fell and consumer demand waned following the end of major steak-eating holidays, traders said.