Cattle futures extended a surge to a record and wholesale beef jumped to a 13-month high after a weekend blizzard hammered the Midwest. According to The Daily Livestock Report for May 3, June fed cattle futures contract closed Tuesday at $127.05/cwt., $17 (+15 percent) higher than where it was priced about a month ago. Much of those gains have been realized in the last few days as packers struggle to maintain slaughter schedules in light of extremely current feedlot inventories. Extreme weather events in cattle country in recent days further compounded the issue and they are expected to cause short term disruptions and further impact cattle weights. CME Chicago Mercantile Exchange live cattle futures closed higher Tuesday on fund buying, short-covering and solid beef demand that briefly lifted the June contract to its 3.000-cent daily price limit, said traders. They said profit-taking and caution before this week’s cash prices pulled futures from new contract highs. Read more at Reuters…
Recent Posts
Texas ranch nationally recognized for environmental stewardship
G Bar C Ranch wins 2023 National Environmental Stewardship Award Program Fort Worth (April 18, …
Continue Reading about Texas ranch nationally recognized for environmental stewardship
Crime Watch: Bull shot and killed in Cleveland
Texas & Southwestern Cattle Raisers Association Special Ranger Mike Boone, District 23 in East …
Continue Reading about Crime Watch: Bull shot and killed in Cleveland
Crime Watch: Horse and saddle missing in Erath County
Texas & Southwestern Cattle Raisers Association Special Ranger Zach Havens, District 9 in …
Continue Reading about Crime Watch: Horse and saddle missing in Erath County