Cash cattle trade last week was not only higher, but showcased the latest in a move past previous highs to all-time RECORD prices. When everything settled out, last week’s price range on a live basis was $1.15 to $1.19. Our peak before was when the markets hit $1.09 in 2003 for one week. We’ve been enjoying this recent climb for a while.
Kevin also had some good news for all the folks in our region that have their eyes zeroed in on calving for the time being.
When asked for his opinion on when it would be time for U.S. producers to take a serious look at rebuilding the cattle herd, he said that he expected liquidation will stop in the next couple of years. However, he says that for rebuilding to occur, there is going to have to be some strong economic incentive to do so.
For more on the cattle markets, visit our Livestock Markets page. To see prices at the local stockyards, visit the Local Auction Market page.
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