The recent Cattle on Feed Report indicated that, for August, we had the fewest cattle placed on feed in 30 years, down 9% from August 2025. This is quite bullish for the fed cattle market for the end of 2026 and the first quarter of 2027. Interestingly, we have 1% more cattle on feed versus 2025. We know the packers want to harvest larger carcasses to compensate for the lower numbers, and the cattle feeders continue to make the cattle bigger to meet their needs. I am guessing the extreme heat this past Summer hurt the gains, and the downturn...
