The plunge and now the retracing of the cash markets back up to some degree has a great deal to do with the currentness of the cattle ready for slaughter. According to OSU Livestock Market Economist Dr. Derrell Peel, the feedlots and packers pulled the overall cattle market over the proverbial cliff because of beef industry carcasses that were too heavy and resulted in too much tonnage- and that killed the slaughter cattle market, forced live cattle and feeder cattle futures to plummet and resulted in multiple weeks where we saw yearling and calf prices drop double digits. Listen to Peel talk cattle market collapse and more on Oklahoma Farm Report’s Beef Buzz…
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