Hulett: Have We Turned The Corner?

The price for cattle in the South held steady at $119-$120 for another week as the number of cattle that were traded rose slightly last week. That could be a sign packers are beginning to get through some of the committed cattle and be in the market to buy more cash cattle from independent cattle feeders.

Feeders in the North saw cash prices mostly at $120 and dressed prices around $191.  The North has seen most of its inventory switch over from yearlings to calves.  This could have some packers widening their search for higher-grading cattle to meet the demands of the current cutout. 

The beef industry was eager to get the holiday behind us so that packers could resume a six day a week harvest to help clean up the back log of cattle that are present.  Word broke late Sunday that JBS had their computer system hacked in their Australian operations. The last thing our industry needs now is another round of plant closures.  

Note: The cyber attack on JBS also affected its North American operations. This is a developing story as of Tuesday morning.

Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers , Inc.