How are grocery story beef prices affecting the cattle complex? Northern Ag Network spoke with Kevin Good from CattleFax late Monday to get his input. He told us that we hit all-time record high retail beef prices in April and May and that we’ll likely hit again in June. This correlates with a relatively average price level for poultry.
Add concerns about unemployment and gas prices and it looks like beef could be on a higher end menu.
Moving from consumers to feedlots, Kevin says that the northern feedlots (Nebraska, Iowa and the upper Midwest) are averaging about $2 per hundredweight or $25 per head higher than those in the south (Texas and Kansas) right now.
He explained the multiple factors leading to this premium.
As far as prices, we’ve been in a downtrend and Kevin expects that we’ll follow the seasonal trends and see some dips lower in July and August especially for fed cattle.
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Haylie Shipp
