Cattle Prices Plummet Amid Rising Corn Costs and Beef Output

Cattle prices continued to decline last week due to several factors, including rising corn prices and increased beef production.

The October feeder cattle futures dropped for the fifth straight week, ending at $316.53 per hundredweight (cwt), which is $7.13 lower than the prior week.

The October live cattle closed lower for the fourth consecutive week, with a price of $211.73 per cwt, down $6.20 from the previous week.

Market analysts pointed to trade tensions and tariff announcements as contributing factors to the decline in cattle prices.

According to Tim Petry, extension livestock marketing specialist at North Dakota State University, 'Live and feeder cattle futures traders had many factors to digest the week of Aug 24-28.'