In our Drovers TV Report, cattle prices continue to slump this week.
U.S. cattle future fell to a six year low on Tuesday. October Live Cattle futures settled at 97.50 cents, that’s the lowest closing front month price since October of 2010.
Much of the pressure comes from added supplies.
U.S. beef production last week climbed above 505 million pounds, up almost 8% from this time in 2015. Processors harvested nearly 10% more cattle, too.