Given the cattle market action from May through July, it almost seemed as if there was no stopping the bull run in the cattle market. Reality set in during August, however, with live cattle prices being subjected to a consolidating trend.
Total beef imports into the U.S. have declined dramatically since the peak in 2004. While 2014 shows a slight uptick from the deep trough of 2013, what does this trend portend for the domestic and international beef market?
Will 2014 be a year of reversal in which cow-calf producers begin to rebuild their inventory? That’s an all-important question, and it’s seemingly been discussed more in recent weeks given the market’s strong counter-seasonal moves.