GCAU’s Forecasted Lower into 2023/24 Marketing Year on Cattle Reductions

GCAU’s Forecasted Lower into 2023/24 Marketing Year on Cattle Reductions

Values on porcine and ruminant items were mixed at mid-week due to ebbs and flows in interest levels as well as CME levels decreasing. Increased unease and buyer hesitation have been witnessed on several agriculture markets for the past week. Bloodmeal continues to be reported as strong due to consistent demand and tighter inventory levels. On porcine bloodmeal, a high of $1250/st was reported on Mo. River along with a low of $1100/st. Bulk of trade was at the high end of the range on both volume and number of participants. Ruminant bloodmeal saw a high of $1200/st for both Mo. River and Texas Panhandle. However, $1200/st was not confirmed at press time for Texas Panhandle.

Ruminant and porcine meat and bonemeal saw limited adjustments for the day. The high end on a few regions for ruminant meat and bonemeal dropped today, on accounts of diminished interest levels at lofty levels.

For week ending May 20th, 2023, broiler slaughter is anticipated to be…

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