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With farmers from Kansas to Texas saying they’ve never seen it drier, it looks like 2012 runs the risk of being another short crop year.
Cattle prices have had a remarkable run to the upside with finished steers reaching the low $120s per hundredweight in early April.
It wasn’t just the world champion auctioneer at the mike—cattle were selling higher at the Eastern Missouri Commission Company in Bowling Green, Mo.
Producers seem to be feeling a bit of disbelief when it comes to current cattle markets, worrying about a sense that there is another shoe to fall.
But drought conditions in some regions are dampening demand for stocker weight cattle.
Packers will have larger show lists next week, which doesn’t bode well for near term cash improvement.