The daily 5-Market negotiated cash fed cattle price reported on April 6, 2023, by the USDA Agricultural Marketing Service, was $172.33/cwt., a new record daily fed cattle price. This was followed on Friday with at price of $175.87/cwt. The previous record daily price was $172.08/cwt. on November 26, 2014.
Where do fed prices go from here? In a steady market, fed prices would typically peak seasonally about now and move lower through the third quarter before increasing to the end of the year. This sort of typical pattern is currently priced into the Live Futures with futures prices…
