Brad Hulett

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The combination of tightening supplies and packers seeking higher-grading inventory helped push cash prices a little higher last week.
While all packers were in the market for cattle last week, none were aggressive enough to push the cash market any higher than steady.
Buying for a holiday-shortened week, packers were not aggressive and prices suffered. This week should produce more robust trading.
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.
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.
Cattle feeders continue to fight for shackle space as cash price continue slumping toward a summer low.
Cash cattle prices declined a dollar or more in all regions last week with packer demand noticeably softer than the week before.
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.
Packers regained much of their leverage last week and prices inched lower. Feeders will struggle to hold prices at a similar level this week.
Market analysts expect demand for beef and wholesale beef prices will begin a post-July 4 seasonal decline the next several weeks.