Cattle feeders experienced another setback in the market last week due to the conflict between Russia and Ukraine. This caused a pull pack in the board which gave packers reason to keep the market steady to lower in the South. Most cattle traded $141-$142.
Feeders in the North saw their market hold at mostly steady. Cash trade was $142-$145 with dressed cattle trading in the mid to upper $220’s. Cattle feeders in the North, along with feeders in the South, had a hard time moving much volume. Packers kept their inventory very tight due to uncertain market conditions.
This should be a very interesting week in the markets. Many people feel that this week will bring some calm to the markets and we may see some normalcy. This would be great, but more than likely the issues going on around the world will bring more volatility to the markets.
Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers, Inc.
