Rabo AgriFinance senior protein analyst Don Close digs into the twists and turns of the COVID-altered cattle market, and offers his outlook for the second half of 2020 and beyond.
Beef, pork, broiler and turkey production in 2021 expected to be higher than 2019 and 2020 levels.
Spring wheat, winter wheat and soybean crop quality also see changes this past week.
Fed cattle backlog expected to continue to plague feedlots and fed cattle markets for many weeks.
Soybean volume fell below all trade guesses last week, in contrast.
Lower to negative producer returns as well as processing plant challenges contribute to increased slaughter.