Last week’s cash fed cattle trade followed the downward slide of the past several weeks, again resulting in lower prices for fed cattle. Kansas started the trade with accepted cash bids of $115. That was enough cattle movement to kick off all the trade in the south with most cattle bringing $114 -$115, and a handful trading at $115.50. The north followed suit at $116 live and $185-$186 dressed.
The question and concern for the past several weeks of decline is if $115 is the bottom, and if the cash market will start to recover. Though the cattle on feed report showed historically higher placements and marketings, the actual cattle placed and marketed fell short of the overall projected numbers.
Based on the report the potentially lower number of cattle on feed, and the packer getting back to a six-day work week, maybe what the cattle market needs to get back to steady or even pick up a buck or two.