Beef prices to head seasonally higher after decline in supply

Beef prices to head seasonally higher after decline in supply

The USDA’s biannual inventory report showed 94.5 million head of cattle and calves in the United States on Jan. 1, down 1.6 percent from a year ago. January’s report also showed 11.2 million cattle on feed, down 7.1 percent from a year ago.

In February, cattle prices were still low relative to beef prices, which will lead to ample slaughter levels and flat-to-weaker beef prices. But the beef supply drop from winter into spring is expected to be sharper than usual this year. Despite re

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