Fourth Quarter Steer Price Outlook- 08/04/2020

Published by David Tedrow on

The USDA  has forecast Midwest steers in the 4th quarter will average $105/CWT. compared to $113 last fall and December 2020 futures of $112  trading on 8/4/2020. The accompanying scatter displays the price of finished steers as a function of the 4th quarter domestic beef supply on a per person basis. Data is based on the WAOB report for July 2020.

The futures market appears to expect beef supplies to be tighter than USDA or perhaps autumn demand to be stronger.

 

Categories: Livestock

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