Cattle prices continue to climb to record highs for both feeder and fed cattle. NDSU Livestock Marketing Specialist Tim Petry explains that tight supplies are working in producers’ favor. “Fed cattle prices record high, $243, $244 average last week, and corn contracts lower this week.” Despite reduced cattle numbers, beef production remains at historic levels due to increased weights, and herd rebuilding is reducing the availability of feeder cattle. “There is more heifer retention going on now. We’re producing about 2 billion more pounds of beef now than we did back in 2014,” Petry added. With Labor Day approaching, rising boxed beef values may further support strong fall markets.
