Bottom dropped out again.
Back to the same prices we were getting since the 80's.
Down here Australia cattle are at record highs:
Angus steer 240 kilos or 588 lb worth roughly AUD $ 4.40 per KG live ex farm...or AUD $1.80 per pound @ .75c exchange rate is US $ 1.37 per pound.
Totally weather driven pricing for the moment most feedlots and backgrounders going ok, cow calf operations very well. Most equity being lost in the packer segment of the market.
Not sure what happens in the new year...I think our beef cyle is about 3 years behind the US so we have a year to run yet...
