Cattle markets facing uncertain future in back half of 2019
A wet spring provided good moisture for forage growth in general but ongoing flooding and excessively wet conditions is limiting grazing and hay production in some regions. Sloppy feedlot conditions also hinder production in some areas. Meanwhile, the record late planting of corn and soybeans this year is adding some uncertainty about yields and pushing corn prices higher, reports Talk Business & Politics.
Tariff threats and weather have fueled uncertainty throughout the cattle markets in recent weeks. While the latest threat of additional tariffs on Mexico has been removed, they did rattle many markets, according to Derrell S. Peel, Extension livestock marketing specialist with Oklahoma State University. He said the biggest threat of all is likely weaker demand for beef in the back half of 2019.
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