Mackey: Feeders, Packers Look to Better Days Ahead
Dealing with performance losses, worsening pen conditions and steady to lower packer bids, cash cattle traders were devoid of motivation. By sundown Friday the National volume sat at a measly 20,726 head cash and grids combined. Many will look for that number to improve with a few cattle that moved after the report deadline and the small Saturday activity that took place.
The South would see activity at $173 cwt live. Meanwhile, the North would see trade in a wider range at $173 to $175 per cwt. live. Dressed sales would conclude at $274 per cwt., mostly higher when compared to the previous week. The biggest development was on the harvest front. A big Saturday estimate brought the week-to-date total in at 617,000 head, 71,000 head larger than the weather-impacted week previous.
Looking ahead, a much-improved weather outlook is forecasted for the cattle belt. Both feedyards and packers will look to benefit. Cattle will get some reprieve and packers should be churning at full steam. Many will price cattle higher as packers have worked through much of their inventory and will need to restock.
A native of Torrington, WY, Brodie Mackey joined Consolidated Beef Producers in the spring of 2013 after earning his B.S. from the University of Nebraska-Lincoln. Brodie’s focus at CBP includes customer development, cattle marketing and evaluation in Nebraska, Northeast Colorado, South Dakota and Wyoming. For more about Consolidated Beef Producers visit here.
