Cattle feeders finally saw good fortune turn their way last week. Usually the week before a holiday is never a good time to push the market higher. Feeders were able to buck that trend and push the market $1 to $3 higher in most regions. The South started trading cattle at $133 on Thursday. By the end of the week packers were pushing the market to $135 and asking for time to see if they could extend inventory before the price rose any higher.
The Northern regions saw much of the same trade. Feeders on the Western side benefitted from trading last and were able to keep most of their trade at the $135 level.
Packers will be forced to be aggressive in the live market again this week. The number of high grading cattle continues to slip, putting more pressure on the packer to meet their holiday meat demand. Feeders will more than likely see another $3-$4 jump in the market again this week.
