With the run-up in stock prices for GameStop, AMC and others, could corn, soybeans or cattle be next? Listen to what Tommy Grisafi of Advance Trading had to say about it on U.S. Farm Report this weekend.
Negotiated cash cattle traded started at higher money mid-week, but in their rush to move cattle some feeders agreed to lower prices and the week ended on a softer note.
The post-Thanksgiving negotiated trade was mixed, with higher prices mid-week, falling off $1 to $2 by week's end. Feeder cattle sold uneven, $2 lower to $3 higher.
The first shipments of the Certified Angus Beef ® (CAB®) brand arrived in China in November, ushering in the potential for a new, powerful buyer for high-quality U.S. beef.
The Choice beef cutout price has rallied nearly $30 in November while cash fed cattle prices have gained just $5. As a result, packer margins have increased while feeding margins struggle to remain above water.
Did outside factors or did cash trade cresting at $110 create the sell off Friday? This week’s cash bids from the packer might be the best answer to that question.
Market analysts see signs that feedyards have significantly reduced the COVID-19-induced backlog of cattle and are regaining currentness, also a key factor in the recent market rally.
The rally in the cattle markets continued this week with solid gains in both cash fed cattle and the boxed beef cutout. Cash cattle prices are now at a level not seen since late June.
