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.
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.
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.
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.
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.
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.
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.
