COVID disruptions are passing and drought impacts are emerging

The COVID impacts on cattle and beef markets are not all behind us but the majority of the disruptions appear to have passed. The exceptions are, and that will remain for some time, the cattle on feed inventories, the number of long-fed cattle, and fed animal slaughter weights. Packer margins remain rather strong, but are well off of record highs, and are being realized as plants are back to operating at or close to full capacity. And then there is the emerging drought picture in the western U.S. Southern Colorado, northern New Mexico, portions of the Texas panhandle, and central Oklahoma are in extreme drought. Read more at Feed Lot Magazine…