The latest USDA Cattle on Feed report shows once again that the “wall” of cattle was not an unreasonable description. Thankfully, sustained consumer demand has helped greatly.
The June report met expectations and further confirms what a bulk of analysts have been talking about the entire 2018 marketing year.
Anne Wasko, with Gateway Livestock Exchange and co-host of the Beef Market Update says, “Tere were no surprises, as supply remains large. So we need to continue moving beef at the consumer level.”
#Cattle on Feed Report:
— Top Third Ag?? (@TopThird) July 20, 2018
Recently, live cattle futures have held despite trade issue pressures facing a majority of the commodity complex. The table below shows the performance of the December live cattle future price in the last 30 days, 3 months and 1 year.