The slipping of the market continued last week. The south traded at $108-$110, with the north being at $107-$109 live and $172-$173 dressed.
There continues to be plenty of committed cattle for the packer. This combined with adequate numbers of live cattle, leaves plenty of cattle each week for packers to pick from. As long as this continues, it will be hard for the feeder to stop the downhill slide. With the packer buying for a shortened holiday week, it seems likely that this downward trend will continue.
If beef demand remains strong after the 4th of July, there is hope there could be some bounce-back in the fed cattle market. Showlist numbers should start to shorten once the holiday of over. If both demand stays strong, and numbers shorten up, that could help lead to an upward swing for the market. There are a lot of factors that could change the market but there seems to be a glimmer of hope in the upcoming weeks.