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As cattle futures slide, economist says he’s keeping a close eye on demand
September feeder cattle futures have dropped nearly $18 in the past two weeks. University of Missouri’s Scott Brown says supply fundamentals haven’t changed. “We have to continue to watch what’s happening on the demand side of the equation in terms of the weakness that we’re seeing,” he says.
He tells Brownfield there have been concerns about the broader economy. “But that come back here at least a little bit early last week,” he says. “Continuing to watch that demand side to me is the critical piece here as we kind of get into the last part of 2024.”
Brown says lower feed costs continue to help the bottom line for livestock producers.
Feeder cattle futures closed lower on Monday.
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