The common high in the cash trade was $112 per cwt. from north to south last week. Packer participation was moderate to good. The packer’s don’t need additional inventory at this time. Their lack of interest failed to keep the market steady or push it higher.
What can we expect over the next few weeks? Most in the industry anticipate a see-saw like, or moderate ups and downs, through the end of August. Market-ready cattle offerings are not expected to increase significantly, and kills are not expected to take on any more numbers this late in the summer. Chances are the market will see small fluctuations in prices dependent upon packer inventory and participation.
As summer winds down the markets will likely experience changes dependent on the beef demand and cattle supply. For the short-term, the beef market continues to look cautiously optimistic if consumers continue to buy beef, and cattle supplies remain manageable.