Cattle feeders in the South never had enough leverage last week to push the market any higher than steady. All packers participated and bought decent numbers of cattle, but no packer needed enough to push the market any higher. Feeders were forced to settle for $141.
The North did not fare much better in their week of trading. Cash cattle ranged from $142 to $144 with dressed cattle bringing in the mid $220’s.
Packers continue to have an appetite for cattle. Many feeders passed bids with time last week thinking that we are poised to move higher as we go forward. The number of fat cattle will continue to decline in the coming weeks and producers could see a premium price put on higher grading cattle.
