Holy Cow! Can you believe the current cattle market? Fed cattle prices in Nebraska exceeded $90 per cwt. the week of September 7-13. The Chicago Mercantile Exchange September Feeder Cattle contract traded over $100 per cwt. A set of 5-weight steer calves sold for $120 per cwt. in North Platte on September 9. These are record high prices. But how high are these prices in relationship to other prices, or when you adjust them for inflation? Before answering that question, let’s first consider what has brought the market to this point.
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