Feedlot Struggles Continue
Light cash trade continued again last week, and ranged widely in price across both areas. Two of the major packers were active in the market, with one packer trying to make an effort to support the market. The South trade ranged from $90 to $105.
Trade in the North was consistent with the South in light trade and a wide range of prices. Live cattle ranged from $94 to $100 with dressed trade up to the mid $150s.
Total numbers of market-ready cattle continue to grow every week. Due to COVID-19 labor concerns limited plant production and lack of cattle trade are not going to find a quick resolution in the short-term.
Many anticipate return to full capacity and current show list to continue into early 2021. Producers appreciated Cargill’s effort to support the cash market at $105. During the month of May, producers are likely to only see one or two packers in the cash market.
Cash traded cattle will be less of a priority during limited plant capacity than committed cattle. As these cattle continue to gain due to extra weeks on feed past harvest-ready, focus needs to shift to what is best for the cattle.
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