Beef is looking pretty good right now, with a strong rally recently in boxed beef wholesale trade, plus export numbers are in for January and according to Jim Robb of the Livestock Marketing Information Center, this year has kicked off to a great start.
He told Radio Oklahoma Ag Network Farm Director Ron Hays that with cattle slaughter up 6.3 percent for the week and beef production up 8.1 percent, “We’re very current in our feedlot situation, but it is a bit of a surprise. That last fall was really a struggle for the markets to adapt.”
Nonetheless, Robb contends that the demand profile, both domestic and foreign, has been very positive.
“But we have to remember that this is the time of the year,” he hesitated, “typically March, April and May is the peak of the fed cattle market.”
Still, Robb cites macro-economic data from consumers remains robust and people are buying lots of steaks, a good indication of strength in the markets, which are currently riding a rally spurred by positive attitudes toward Trump.
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