Purdue University Economist Chris Hurt predicts good prices ahead for cattle producers. Hurt says high feed prices prompted feedlots to reduce placements in May and June which means fewer cattle going to market in the final quarter of this year. Added to that, the lower dollar is limiting imports while exports are increasing. In fact, Hurt says USDA will have to revise their beef export projections from the 18% growth to more reflect the 34% increase in exports we witnessed in the first five months of the year.
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