Cattle Market Year in Review

Cattle Market Year in Review

I’m KayDee Gilkey with the Market Line Report for January 2, 2015.

Of course the commodity markets were closed yesterday for the New Year Holiday. Best wishes to you in 2015 for happiness, health and prosperity. Unlike that not so good prices news in the grains market from a year ago — the cattle market has been moving higher. A year ago, live cattle February prices were at $135-63 and March feeders were at $167 compare that to earlier this week with live prices at $165 and March feeders were $215-68.

Jackson Commodities Henry Kornegay gives us a year in review for the cattle market.

Kornegay: “Cattle producers had a great year as we watched prices climb to all-time record highs. It appears we’re starting to see some heifer retention, indicating that producers are beginning to rebuild the U.S. herd. This could have a toll on prices. Some believe that we put in a multi-year high earlier this year, but after recovery from multiple days of being limit down. We’ve regained some stability for now. And at this point — barring any unexpected conditions or problems within the herd such as a dairy buyout or mad cow or something like that or large increase in beef imports into the U.S. — we expect very attractive prices and marketing prices for ranchers into the new year.”

 

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