Cash trade has been very consistent at $111 for the past five weeks. However, last week feeders anticipated steady money wasn’t as close to a sure thing as it had been the previous weeks. All regions traded mostly at $111 cash and $174 dressed.
Texas, Kansas, and Nebraska, all had large amounts of rain and cooler conditions during most of last week. Yields and weights could start declining as inclement weather continues across most of the feeding areas. Pens should be in good condition due to the dryer weather that extended into the summer, but some yards may have been too full for full maintenance. Uncomfortable conditions are setting in, impacting intake, gains, and health, and potentially driving yields down.
Packers are currently asking for time, with the range from 7-14 days for delivery. Inventory needs will determine if we have steady money for the sixth week, or a bump in the market. Currently, most anticipate that cattle feeders should get a bump in the market. The packer is not of the same mindset because they can find enough cattle around them without having to chase them.