Hulett: Prices Slowly On The Rise

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(CBP)

Cattle feeders in the South saw a glimmer of hope in last week’s cattle trade.  Most fed cattle in the South brought $120 with a few more bringing something on both sides of that.  The region saw decent movement, but still not totally in the clear of the backlog.

The market in the North is beginning to have a wider trading range depending on which side of the region you are in.  The cash trade in the North was $121-$124 and dressed cattle were $293-$196, with cattle in the East bringing the higher end of the range.

The futures market continues to point towards higher prices as we go forward.  Producers are beginning to find themselves in situations where they have the ability to pass bids, and make the packer chase the higher end of cattle till we get into the fall.

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

 

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