Feeder cattle prices gaining strength
The feeder cattle market has really flexed its muscles as we have moved through summer. The October CME© feeder cattle futures contract has increased by more than $10 per cwt since May and this can been seen in the market for heavy feeder cattle. Heavy feeders typically make their highs around this time of year, but calf markets are increasing counter-seasonally. A strong calf market going into fall is a good sign for cow-calf operators that calve in the spring and will be marketing calves in the coming months. The chart below shows steer calf prices in the Southern Plains, which have been increasing through July and August.
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