Sale barn receipts are running about half last year’s levels, Ben Hale said, underscoring tight cattle supplies even as feeder prices come under fresh pressure.
Trump’s beef tariff announcement has clouded what otherwise looked like a stronger market after a bullish USDA Cattle on Feed report, leaving producers and traders unsure how to price cattle.
Historically strong feeder prices still are not guaranteeing profits, Hale said, because current buy-sell margins are negative and further price declines could squeeze feedyards next.
Mexican cattle imports resuming are unlikely to materially change supply through the end of 2026, Hale said, while added Argentine beef has heightened frustration across the trade.
Forage and weather limits are already keeping some operators at reduced capacity, with rainfall likely to shape whether they retain heifers or continue running fewer yearlings and cows.