Cattle feeders found themselves in an environment they have not seen since August of 2019. Four packers were in the market competing for the cattle that were available on the list. The South saw some trade develop on Tuesday with a few feeders accepting $128 for their cattle. This trade was short-lived and most feeders chose to hold for more money. This paid off, and the packers came to $130 on Friday. This trade cleaned up most show lists, and lists should continue to stay limited going forward.
Feeders in the North also took advantage of the same situation. Cash trade in the North was mostly at $130 with a few feeders trading at something lower earlier in the week. Most of the dressed trade ranged from $202 to $206.
The cattle feeders should do their best to push the market the next few weeks. This will be the best opportunity before we get to the Thanksgiving holiday. Once we get into the holiday cycle prices could level off due to limited packer operating hours and more fat cattle available.
