Packers got the market going early last week. Monday packers were willing to take on cattle at $140, steady with last week. There were a few cattle that brought up to $141. The cleanup in the South was exceptionally good.
The North was able to keep its price advantage over the South. Cash trade was mostly $145-$146 and dressed trade was in the low $230’s.
Cattle feeders should still have a few weeks to try to push the market higher before cattle inventories increase. The numbers could remain tight for some time. Some packers in the North were trying to tie up inventory for the first part of June this week. This may show that cash will hold above the board for nearby trading.
Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers, Inc.
