Producers of beef and pork have generally been discouraged about recent low prices as cash prices have dropped sharply this year, according to Purdue University agriculture economist Chris Hurt. Spring finished cattle price highs were near $138/cwt., but last week fell to $115/cwt., representing a $23/cwt. plunge.
The story is similar for hogs, Hurt added. After seeing yearly highs at $81/cwt. for a national lean price in the third week of June, prices have dropped $20/cwt., or 25
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