Cattle markets continue the decline from September into November. Much of this movement lower could and should have been anticipated. The underlying supply and demand fundamentals did not support year-long and continuing higher movements in cattle prices.
Supplies are tightening and demand has been strong but the movement to record high prices is well in advance of that which can reasonably be supported by fundamentals.
Packer margins have spent much of the year at levels that are unlikely to cover costs – or much of costs – there may have been only a single month with some positive…
