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.
Cattle feeders in the South saw a glimmer of hope in last week’s cattle trade. Most fed cattle in the South brought $120 and region saw decent movement, but still not totally in the clear of the backlog.
Cash cattle traded steady, with cattle feeders in the South still needing a couple more weeks for good trade volume before they have any shot at being able to push the live market higher.
Feedyard show lists are declining but the day that most lists get sold each week is still several weeks away. Packers have begun to take Saturdays off which will not speed the recovery from the backlog.
A light volume of cattle traded last week as per usual ahead of a holiday-shortened week. Prices traded steady to slightly lower with packers more willing to accept lower-grading cattle.
Packers were forced to push the market higher in their quest to find higher-grading cattle last week. High=grading cattle are becoming harder to find with each passing week.
Cattle trades continued in a familiar pattern last week with prices steady to somewhat firmer late week. Feeders keep working to clean up backlog cattle.
The fed cattle trade last week continued down the same path that we have seen for several weeks. The upcoming weather forecast of hot weather will not be helpful for the backed-up cattle supply.
Cash prices held mostly steady last week, which could be a sign packers are beginning to get through some of the committed cattle and be in the market to buy more cash cattle from independent cattle feeders.
