The cattle market showed strength this week at livestock auctions. But, this is mid-summer and prices should start to decline, following the Fourth of July holiday.
Cattle prices for the year are running ahead of 2018 and the beef trade is surprisingly strong. Here is a quarterly health check of the beef market.
The third quarter has officially arrived. Jim Robb, senior economist at the Livestock Marketing Information Center, indicates that all-in-all, the beef market is looking fairly good compared to last year.
In an interview with Radio Oklahoma Network farm director Ron Hays, Robb reported that production and slaughter have been down slightly. The supply side, although running a bit higher more recently, has had a bit of decline. Even so, he says the boxed-beef cutout has actually held together quite well.
AUDIO: Profit Matters 7-11-19