The Thanksgiving holiday started a day early for cattle feeders. The feeders in the south held out for $117 on Wednesday, with a few cattle selling early at $116. The north traded mostly at $116 and $185 with a few receiving $117.
Cattle feeders potentially have a week or two to push the market until the Christmas holiday and market doldrums coming after the first of the year. Feeders indicated their resolve to push the market higher by holding out this week for $117.
Though feeders have marketed more cattle, and showlists are current, we still have a large number of cattle on feed. An upside to the market looks advantageous for the future due to the lack of placements. However, feeders will need several months of aggressive marketing to realize the full impact of the reduced placements.