Drovers’ index of economic indicators saw significant decline last month as cattle prices and profit margins lost ground. Four of the eight arrows in this month’s analysis point lower, and three point sideways. Only one indicator, production costs, is aiming higher. Key cattle prices were weaker for all classes of cattle, earning a down arrow. Production indicators were lower based on heavy placements and weaker marketings. Feedyard margins moved into negative territory, and competitive meats are seeing increased production and lower retail prices for pork and poultry. Packer margins were steady last month, and the beef market showed little change. Lower grain prices should help support feeder-cattle prices this fall, but beef’s economic health is clearly weaker than any time over the past year.