Agribusiness
North American cattle farmers in dilemma
Report says the winter storms have been causing cattle deaths and losses in the US,as over two thousand head of cattle were lost in affected feedlots. Also the dairy industry has been affected, with reports of 30,000 head losses in New Mexico and Texas.
Cattle Farm analysts expect that the effects of winter weather, in addition to the seasonal decrease in cattle weights, will cause cattle weights to continue dropping.
“Although the winter weather is extremely hard on the producers and cattle it affected, it has probably lent some support to the recent uptick in prices on the cash and futures side of the cattle market.To support this confidence in the market, on Monday live and feeder futures opened down likely due to the Chinese stock market crash. Both the live and feeder contracts closed positive however, feeders up $2.225 and live cattle up $1.275 for the day,” Mr Meyer and Mr Steiner said.
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