Cash Survives Sluggish Board
Cash fed cattle prices held steady again last week. Cash trades occurred at $125 with dressed cattle bringing $200 per cwt. Packers had a stronger presence last week, but not enough to help make up for last week’s erosion of futures prices.
Cattle weights continue to average lower than a year ago. Packers have reduced harvest numbers over the past several weeks, and the lack of available pounds helps keep the cash market more steady versus taking a significant drop. If the equilibrium continues, the cash market could potentially remain steady for several weeks to come.