Feeder cattle auction prices recovered some last week as Live and Feeder futures increased from the lows following the outbreak of war in Ukraine. Oklahoma State University Livestock Marketing Specialist Derrell Peel says the market is just uncertain. “We just don’t know what’s going to happen. Markets don’t like uncertainty and react very dramatically. We’ve seen grain markets go limit up to record levels and cattle markets go down in response. We do know that the disruption of grain markets in the Black Sea has caused feed prices to go up.” Peel says the meat trade impacts are low. “Russia imports a little bit of beef. We haven’t exported beef to Russia in over a decade. There’s not a direct impact on meat trade immediately, but these other factors are going to weigh on the market.”
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