Market Summary

Slaughter cows and bulls steady to $2 higher. Hopefully the low is in for the fall but I guess we’ll see. There’s been really good demand for slaughter cows all fall. Calf market continues to advance based on quickly diminishing supplies and a more positive futures market. I just feel like I should finish my thoughts from last week quickly. When I read it again I felt like I didn’t do a very good job of that. The financial markets are pricing in higher interest rates and higher inflation for longer, due to bigger deficits and more tariffs causing higher prices for consumers. The thought is that this would have the effect of reducing beef demand in the future. I guess we’ll have to see. Right now it seems that the extremely positive fundamental situation makes these problems not as important. So I think while the economic situation is perhaps less favourable it doesn’t change our outlook very much. Looking ahead to bred sales it seems like heifers will trade from $4000-5500 per head. Seems like lots of money but it’s still historically quite cheap when compared to calf prices. Have a good week. Ian.