Holding their position allowed producers to increase cash trade $1 higher over the previous week’s market. Most of the cattle feeding areas were able to get $119 cash. Packer participation was good, but not enough to push the market to $120.
Short-term future gains in the cash market could be slowing or changing directions. The holidays are quickly approaching, and often have an impact on momentum on the cash trade. Feeders should prepare for the impact of reduced kill volumes, and reduced packer inventory over the next few weeks.
Feeders have moved show lists very easily the last several weeks. Therefore, show lists are very current. The holidays have the potential to back us up in the market, but being current in supply could determine the price on market ready cattle in the next few weeks.