Feeder cattle futures prices drifted lower in mid-August, although University of Tennessee ag economist Andrew Griffith says they have stayed in the same price window so far this summer.
“Feeder cattle futures contract prices have softened, which may be the leader for lower cash prices in local auctions,” he says. “Despite feeder cattle futures prices softening, they continue to trade in the same $10 per hundredweight range they have been in since the end of June.”
Griffith says it is unknown if prices can work back higher, but for now there is not a lot of support for that.
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