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CATTLE, BEEF PRICES CONTINUE TO SET RECORD HIGH PRICES
BrownfieldAgNews reports:

There are hot streaks and then there's the recent run in cattle futures and cash and wholesale beef as tight supplies and strong demand continue to send those markets to all-time highs.

Wednesday, at the Chicago Mercantile Exchange, February live cattle futures were up $2.12 at $143.67 and most active March feeders were $2.05 higher at $170.37, while cash cattle traded as high as $150 on the live basis and mostly at $240 on the dressed, and while boxed beef was only firm, those also closed at record highs, with Choice at $240.05 and Select at $237.44.

Still, boxed beef may be starting to top out, with USDA noting increased offerings from previous reports.

In any event, market ready numbers in the country should stay light over the near term and Allendale's David Kohli tells Brownfield, packer demand will probably be anything but light. "This, of course, implies that packers are very short bought and they're willing to pay whatever they can to buy the animals they need for their inventory."


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