Working off a big trade the previous week and slowed production, packers were reluctant to purchase cattle but the futures market took a dip and buyers stepped in at steady money and gathered inventory.
The CyberStrike debacle that grounded planes and shuttered various operating systems likely contributed to the stumbling futures market that incited early week cattle trades.
After two weeks of sluggish activity packers now face a holiday-shortened week. Many southern purchases are being shipped to northern packing plants where market-ready supplies are tightest.
The outside trades of $186 in the South and $193 in the North are a telling sign that leverage is there for the cattle feeder. Given the chance to capitalize with multiple bidders the market should respond favorably.
