In this weeks Beef Market Update Anne Dunford and I discuss the difficult market for feeders right now as cattle feeders await the arrival of the calf run. Limited calves have come to the market so far but the ones that have have a nice little premium attached. With a flat fat cattle market, weaker than ideal boxed beef demand and surging to par Canadian dollar, things look kind of dicey right now for the feeder. Based on Anne and I discussions the concern lies in at what price will feeders place the calves into the yard considering the dollar and feed grains volatility. Many of the yards that I talk to on a regular basis have feed bought several months ahead and whether those are good prices are not are unclear based on how the USDA keeps playing with the corn carry out number. Gotta love this business.
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