When will the bull market end?
- ZISK
- 35 minutes ago
- 1 min read
Live cattle prices have increased 525% since 2022. Many in the industthe ry are now afraid of the market, fearing that the top is near. For producers this concern is totally understandable because record-high feeder cattle prices are forcing projected breakeven prices to unheard of price levels. Managing risk after placing calves into a feedlot has become most difficult. The futures market has no carry, meaning deferred contracts are discounted to the front month. The “lack of a hedge” in futures leaves limited choices for managing risk. The LRP program, while fully subsidized by the federal government, can be expensive and inflexible. However, these concerns, while very real, actually have little to do with whether or not the bull market will remain intact.
Dennis Smith
May 11, 2026
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