Cattle feeders in the South finally saw a turnaround in the market. Feeders in Texas were a little more eager to get business done and began selling cattle on Wednesday at $136. Cash trade in Kansas did not develop until Friday morning and feeders were rewarded for their patience. Packers raised their bids to $137 which was enough to get trade started. There were also some smaller numbers of cattle traded in the south to regionals at $139-$140
Cattle trade broke out earlier than usual in the North. Packers were quick to come with higher money and by Tuesday most feeders were done with trade. Cash was mostly $141 with dress trade in the mid $220’s.
The mood of the market feels like it may still have some upward movement for the short-term. Cattle feeders will mostly have a little leverage until we get into the full swing of summer.
Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers, Inc.
