Latest News From Brad Hulett

Hulett: Cash Holds Steady
Hulett: Cash Holds Steady

While all packers were in the market for cattle last week, none were aggressive enough to push the cash market any higher than steady.

Hulett: Fed Prices Take A Step Back
Hulett: Fed Prices Take A Step Back

Buying for a holiday-shortened week, packers were not aggressive and prices suffered. This week should produce more robust trading.

Hulett: Cash Runs Higher
Hulett: Cash Runs Higher

Beef packers were forced to pay up to attract inventory last week, a bullish signal that the longer-term trend is higher for cash cattle.

Hulett: Cash Changes Direction
Hulett: Cash Changes Direction

Packers had to pay up to acquire the numbers of cattle they wanted last week helping to clean up show lists and signaling the summer lows may be in the rearview mirror.

Hulett: Erosion of Cash Continues
Hulett: Erosion of Cash Continues

Cattle feeders continue to fight for shackle space as cash price continue slumping toward a summer low.

Hulett: Cattle Prices Continue to Pull Back
Hulett: Cattle Prices Continue to Pull Back

Cash cattle prices declined a dollar or more in all regions last week with packer demand noticeably softer than the week before.

Hulett: Cash Holds Firm
Hulett: Cash Holds Firm

There was never enough need by any packer to push the market but could be a sign they may be getting shorter on committed cattle. Regional packers seem to have cooled down in the North.

Hulett: Cash Softens Following Holiday
Hulett: Cash Softens Following Holiday

Packers regained much of their leverage last week and prices inched lower. Feeders will struggle to hold prices at a similar level this week.

Hulett - Market Holds Steady
Hulett - Market Holds Steady

Market analysts expect demand for beef and wholesale beef prices will begin a post-July 4 seasonal decline the next several weeks.

Hulett: Higher Market Continues
Hulett: Higher Market Continues

Packers in the Northern region remain short on cattle which helped boost the price for a second consecutive week.

Hulett: Cash Finally Turns Higher
Hulett: Cash Finally Turns Higher

Cash fed cattle prices turned higher late week with Kansas trading Friday morning and were rewarded for their patience.

Hulett: Basis, Feed Costs Push Trade
Hulett: Basis, Feed Costs Push Trade

Declining carcass weights and the search for higher-grading cattle may lead to a market rebound sooner than expected.

Hulett: Downward Trend Begins
Hulett: Downward Trend Begins

Cattle feeders saw prices erode last week and have a summer slump in sight with large on-feed inventories and increasing costs of gain.

Hulett: Cattle Market Runs Sideways to Lower
Hulett: Cattle Market Runs Sideways to Lower

This week could be very unpredictable in the cattle trade. The North-to-South spread may continue to narrow as calves are still not ready and packers seem to be chasing more mature cattle in the South.

Hulett: Markets Hold Despite Tumbling Board
Hulett: Markets Hold Despite Tumbling Board

Cattle sold steady to firm and cattle feeders should still have a few weeks to try to push the market higher before cattle inventories increase.

Hulett: Upward Movement Continues
Hulett: Upward Movement Continues

Cattle will continue to come in lighter than expected and lose grade due to high ration costs. This could help keep forcing the packer to harvest more cattle than expected to keep their orders filled.

Hulett: Cash Turns Slightly Higher
Hulett: Cash Turns Slightly Higher

The tightest market-ready fed cattle supplies of the season in the North are helping to push prices higher for most feedyards.

Hulett: The Struggle Continues
Hulett: The Struggle Continues

Cattle feeders in the South sold cattle throughout the week at steady money while feeders in the North pushed their market a little higher by week's end.

Hulett: Northern Feeders Find Extra Money
Hulett: Northern Feeders Find Extra Money

Prices on the South Plains remain locked in a price rut as packers appear to have plenty of inventory. Corn Belt prices remain premium to other regions.

Hulett: Sideways Trade Continues
Hulett: Sideways Trade Continues

Modest packer participation in all regions led to another disappointing week for cattle feeders trying to push the market higher.

Hulett: Struggles Continue for Feeders
Hulett: Struggles Continue for Feeders

Cattle feeders began last week optimistic that the market trend would be higher, but those ideas were quickly squashed as futures prices began trending lower.

Hulett: Cash Continues to Drop
Hulett: Cash Continues to Drop

The month of March will continue to bring more cooler cleanings on the packer’s part.  This will continue to keep the number of cattle needed by the packer to minimum.

Hulett: Cash Loses Momentum
Hulett: Cash Loses Momentum

Cash fed cattle prices came under pressure last week as packer needs were lighter than in recent weeks. Wholesale beef prices have declined resulting in lower margins for processors.

Hulett: Another Setback for Feeders
Hulett: Another Setback for Feeders

The Russia-Ukraine conflict produced another set-back for fed cattle last week. The industry is hoping this week will bring less volatility in the markets.

Hulett: Cash Moves Higher
Hulett: Cash Moves Higher

Cattle feeders saw active participation from all packers last week which helped push prices higher for a fourth consecutive week. Prices in the North remain at a premium.

Hulett: Cash Holds Steady to Higher
Hulett: Cash Holds Steady to Higher

Cattle feeders in the South saw three packers aggressively buying large numbers of cattle last week. Packers in the North continued to push hard to buy cattle in the eastern side of the region.

Hulett: Cash Creeps Higher
Hulett: Cash Creeps Higher

The cash market finally saw some life last week.  Packers seemed to be in more need for cattle and finally were in a position to have to raise bids to get cattle bought. 

Hulett: Another Week, More of The Same
Hulett: Another Week, More of The Same

Cattle feeders saw nothing new in the live cattle trade last week as packers continued to be on limited head counts once again. 

Hulett: Market Holds Steady
Hulett: Market Holds Steady

Cattle feeders in all regions saw participation by all packers in last week’s market, with prices mostly steady with the previous week.

Hulett: Packers Take Advantage of Cattle Backup
Hulett: Packers Take Advantage of Cattle Backup

Absenteeism at major packing plants due to coronavirus has again helped create a backlog of market-ready fed cattle. Packers used that fact to push fed cattle prices lower last week.

Hulett: Cash Market Climbs Back
Hulett: Cash Market Climbs Back

Packers needed cattle last week and pushed the cash market higher as the holiday-shortened weeks came to a close.

Hulett: Shortened Harvest Keeps Market Suppressed
Hulett: Shortened Harvest Keeps Market Suppressed

Cattle feeders anticipated cash cattle prices would be softer since packers were working with holiday-shortened hours last week. Packers will need cattle this week to fill full-week schedules.

Hulett: Cash Loses More Ground
Hulett: Cash Loses More Ground

Cash bids were scarce last week with packers facing shortened slaughter schedules the next two weeks. Cash prices were $2 lower in all regions.

Hulett: Cash Loses Ground
Hulett: Cash Loses Ground

Cattle feeders found softer demand from packers last week, resulting in a $2 per cwt. decline in cash prices. Holiday slaughter schedules the next couple of weeks will likely prevent any price gains until the new year.

Hulett: Cash Pushes Higher
Hulett: Cash Pushes Higher

Higher prices for cash fed cattle has helped cattle feeders gain currentness and improve their market leverage over the past four weeks.

Hulett: Pre-Holiday Cattle Rally
Hulett: Pre-Holiday Cattle Rally

The week before a holiday is not usually ideal for pushing the market higher, but last week proved to be just the right combination to support a rally.

Hulett: Cash Continues Higher
Hulett: Cash Continues Higher

The cash fed cattle market found its way higher again last week, with four or more packers in the market all fighting for cattle every week for the first time in two years. 

Hulett: Cash Soars Higher
Hulett: Cash Soars Higher

Last week cattle feeders found themselves in an environment they had not seen since August of 2019.  Four packers were in the market competing for the cattle that were available on the list.

Hulett: Cash Finding Momentum
Hulett: Cash Finding Momentum

Cash fed cattle prices moved higher last week with all packers participating. This week cattle feeders will look to keep the momentum going.

Hulett: Cash Struggles To Rally
Hulett: Cash Struggles To Rally

Packers were willing to take a little lower grading animal last week, but cattle feeders may have a limited window to get those undesirable cattle market before larger supplies appear on showlists.

Hulett: Cash Inches Higher
Hulett: Cash Inches Higher

Cash cattle trade looked to be a repeat of the last several weeks with packers grudgingly upping bids. It was not a huge increase, but it is a sign that the number of front-end cattle available is becoming shorter.

Hulett: Has Cash Bottomed?
Hulett: Has Cash Bottomed?

The number of high end market ready cattle should be limited for the next several weeks. If the cattle feeder has any opportunity to take any of the margin from the packer the time may be upon us.

Hulett: Rinse And Repeat
Hulett: Rinse And Repeat

Holidays are out of our way, but packers have begun their fall cooler cleanings.  This rotation will keep at least one plant running short for several weeks and will continue to keep fed cattle harvest to a minimum.

Hulett: Feeding Industry Continues to Struggle
Hulett: Feeding Industry Continues to Struggle

Cattle feeders continue to struggle with ample supplies of market-ready cattle and only moderate demand from packers.

Hulett: Cash Tops Out
Hulett: Cash Tops Out

Negotiated cash trade of fed cattle was limited in both the South and the North last week, and steady to softer prices was the result.

Hulett: Market Creeps Higher Despite Light Trade
Hulett: Market Creeps Higher Despite Light Trade

The fed cattle market in the South continued to inch higher last week. Now that we have the holiday behind us packers should have a greater need for cattle than what we have seen for the last several weeks.

Hulett: Downtime Hampers Cash
Hulett: Downtime Hampers Cash

Last week’s cash cattle trade was influenced by downtime at multiple packing plants due to mechanical and labor issues.

Hulett: Slow Grind Continues
Hulett: Slow Grind Continues

Cash fed cattle prices increased moderately last week as cattle feeders are finding supplies of market-ready cattle finally on a decline.

Hulett: Cash Cattle Mostly Steady
Hulett: Cash Cattle Mostly Steady

Deferred cattle futures prices suggest cash cattle should rally going forward, and many cattle feeders are in a position to dig in and fight for higher prices.

Hulett: Cattle Prices Head Higher
Hulett: Cattle Prices Head Higher

Cattle prices pushed higher with trade volumes also increasing. The market has been aided by the decline in committed cattle, helping independent feeders clean up their showlists.