Cattle feeders were able to push the market higher in the South for another week. Despite some early trading from hedgers and other feeders, most cattle feeders held out for $142. This is would be the number that tripped most of the cattle in the South. The one thing that was different than the last several weeks was that there were only two packers in the market.
Feeders in the North saw a mixed market. Feeders in Eastern Nebraska and Iowa traded cattle early in the week mostly in the upper $130’s. Later in the week the feeders who held out in the east, and feeders in the west sold for $142 and dressed cattle up to $223.
There continues to be good clean up in every area. This should continue into the new year. The rise of the cash will probably see a slow down as we get closer the Christmas holidays, but still feels like cash will hold onto its gains.
Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers , Inc.
