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Cattle Outlook: Fed cattle prices lower this week

The stock market has had a wild couple of weeks. In the six days ending on Tuesday August 25, the Dow Jones Industrial Average declined by 1,878 points (10.7%). On Wednesday and Thursday it gained back 988 points (6.3%). The turmoil is mostly related to concerns about the Chinese economy.

Markets

Boxed Beef Report: Beef falls to end the week

Choice boxed beef fell $1.19 to hit $243.63 on Friday, bringing the 27-day average price to $239.45. Select boxed beef also saw a slight decline from $233.53 on Thursday to $232.83 on Friday. The 70-cent fall brought the 27-day average price to $232.13.

Choice primal chuck saw the largest fall of $3.09 on Friday to hit $199.03, while choice primal rib fell $2.50. Choice primal loin on the other hand saw an increase of $1.03 to hit $339.33.

Advice and Tips

Ranch succession-planning series: Define compensation and responsibilities, Part II

From part two of our four-part ranch succession-planning series. “Almost everyone I work with in agriculture fights formality, and by that, I mean defining a job description,” Dave Specht, founder of Advising Generations LLC, says. “Most family-business stakeholders have a ‘do whatever it takes to get the job done’ type work ethic because their operation depends on it. While that attitude is essential, it isn’t concrete enough to provide the structure needed.”

Advice and Tips

Ranch succession-planning series: Define compensation and responsibilities, Part I

From part two of our four-part ranch succession-planning series. Put yourself in this scenario: The phone rings. On the line is a job offer and the pitch goes like this: “Hi, we have a job available. There is plenty of work to be done, but we don’t exactly know where you’ll fit in yet. We might be able to give you some vacation time, but it is going to depend on a lot of factors. You’ll get paid, but we’ll figure that out when you get here. One last thing — we’re going to need you to put in a lot of overtime.”

Markets

U.S. gasoline and diesel fuel prices decrease

The U.S. average retail price for regular gasoline decreased eight cents from the previous week to $2.64 per gallon on August 24, 2015, down 82 cents from the same time last year.

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