Market highlights: Prices could continue rally into fall

Despite higher feeder cattle placements and marketings in March, finished cattle prices continue to soar. Federally inspected cattle slaughter is up 6.6 percent year-to-date compared to 2016 which should put a lot more beef on the market. However, cattle dressed weights have kept beef production in check as they have averaged nearly 11 pounds lower thus far in 2017 compared to the same time period in 2016. Higher slaughter rates and lower dressed weights have resulted in a 5.2 percent increase in federally inspected beef production. If cattle feeders are able to remain current in marketings then the summer and fall marketing months should remain kind to them as they move through the largest slaughter periods, according to Andrew Griffith with the University of Tennessee. Read more at Drovers CattleNetwork…