The market finally got a bump last week though a $2 increase still felt deficient considering lack of marketable pounds. Cash cattle traded in all areas at $128 per cwt. with the dressed areas trading up to $205. Many feeders passed on $126 from the week before with hopes of higher money last week. Patience paid off for feeders with the market trading $2 higher. However, many in the feeding industry were still disappointed due to anticipating an even higher market.
The number of market ready cattle will remain at a low level for several weeks to come. The limited numbers and the continued negative impact of the winter weather will keep beef tonnage in short supply. Packers are effectively managing harvest, by slowing numbers per week, to protect their profits. If the spring demand trend stays true for this year, over the next several weeks feeders could very easily see prices in the mid $130’s.