Economic Indicators: Market improves as input costs fall

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Cattle and beef industries continued to improve in August as a lower feed conversion is outweighed by falling feed costs. The eight indicators show improvement in the cattle industry, primarily on the production side where input costs are lower. Steers added more weight, with the average daily gain up 0.3 pounds per day compared to July, and the cost of gain was significantly lower, down $6.80 per hundredweight on average. Indicators reveal a steady market for beef production, with even production numbers from beef as well ascompeting meats, and steady retail beef prices which were only a penny lower per pound than the previous month, according to Drovers/CattleNetwork’s retail price index.

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