The marketing outlook for cattle is basically a continuation of the last couple years, with more record prices, says University of Missouri Extension agricultural economist Ron Plain. He says fed cattle prices will set records for the fifth straight year in 2014, and not just by a bit.
"Last year, fed cattle averaged about $126/cwt.," he says. "We've had prices at $160 and above this year and are probably going to average $153/cwt. for the year. That's an increase of $27/cwt. On a 1,400-lb. steer, that's big money."
Feeder cattle prices are also setting records. With high prices at slaughter and corn dropping more than $2/bu., feeder cattle are more valuable, Plain says.
To read more about feeder cattle prices, click here.
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