Mackey: A Good Win for Cattle Feeders
The National total of 22,437 head cash and grids combined Friday afternoon was still light. By the numbers, packers would need a few thousand more to end the week in comfort and cattle feeders knew it. A late-night flurry of trades would end the week with trade at higher money.
The South concluded business at $182 cwt live, up from $179 cwt the week before. Meanwhile, the North sat on bids of $180 and $285 dressed. Yields and weigh ups struggling, packers would need to best their bids before cattle feeders would release showlists. Eventually, $181 per cwt. live and $289 cwt. dressed would roll the trade over. It was a good win for the cattle feeder having notched a price threshold not seen since November 3rd.
Looking ahead, Packers are treading water and in no hurry to increase their cattle costs. Kill cuts will be their play to manipulate the flow of cattle and begin to temper the market. Cattle feeders, incentivized by struggling out weights, tough pen conditions, and another round of weather over the weekend will look to price cattle higher. It will take all of next week to see how it plays out.
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.
