“The trend on the wholesale beef side is very similar to what’s occurring in the live cattle market,” says Nevil Speer, BEEF industry analyst. “That is, weekly negotiated sales continue to decline over time."
The House Agriculture Committee approved legislation to repeal mandatory Country of Origin Labeling a day after the World Trade Organization's Appellate Body ruled against it once again, in favor of the complaint brought by Canada and Mexico.
Feedlot placements in April were significantly less than expected, according to Friday's Cattle on Feed report. Placements of cattle weighing more than 800 pounds continue to comprise the largest proportion of cattle entering feedlots.
Snug supplies and lush pasture prospects continue to underpin calf and yearling prices. Though fed cattle traded steady to lower in the spot market, Choice wholesale beef value reached a new high heading into Memorial Day.