More cattle, lower hog prices has little impact on beef markets

Recent reports from USDA on the cattle inventory and cattle on feed have shown that herd numbers have continued to be on the rise. Cattle on feed has especially been on an upward trend with record numbers for the most recent July report.

Cattle are still trading at $110-112/cwt in the cash market which is a positive indicator considering the flood of cattle in feedlots.

Despite cattle prices being lower than year-ago levels, of the major livestock markets beef has weathered the storm better than poultry or pork.

Source: Drovers