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CATTLE FAX FORECASTS HIGHER CATTLE PRICES
Feb. 12, 2013
BrownfieldAgNews reports:
Fed cattle prices are expected to average $126 in 2013, with a range of $114 to $138.
CattleFax senior analyst Kevin Good made that prediction at the recent Cattle Industry Convention in Tampa.
"Last year we averaged $123, so that's a 2.5% increase in price," Good said. "We think wholesale values are going to be up close to four (percent). We think retail values are going to be up close to four."
As for yearling and calf prices, Good says, "if we're right in assuming that corn values will dissipate, especially in the second half of the year, it would put yearling values-a seven-and-a-half weight steer, on an annual basis-at $155. That's a 5% improvement compared to this past year.
"It would put calf values around $175-and that's a 5% improvement compared to this past year."
But Good says if there is bumper crop and corn goes to $3-$4, the topside is unlimited in yearlings and calves.
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