Can higher beef prices stay?

I had several cattlemen tell me several days ago that we are not done going higher with the cattle market.

I’m not sure if they were judging by the numbers. Often, I have been where cattlemen build their faith on what they hear others say. That not only happens when cattle prices go up, but it also happens when prices go down.

Whatever the case these cattlemen were right this time—so far anyway. I hear some say we will go to $220 on fat cattle and $300 on feeders or get close. Do not take that information like it will definitely happen because there are lots of factors out there right now. And if they were that smart they should have been buying August fat cattle futures because it wasn’t more than 10 days ago they were at $190 per hundredweight.

Most all feeders going into the feedlot had a breakeven of $200 per hundredweight. With a tariff war going on between the United States and other countries and lots of wars across the world who knows. I hope we have established new beef level prices and when it falls it doesn’t fall to an extreme low level.