The cash market continues to show its resiliency. Each week cattlemen seem to grab for new ground pushing the market into new territory. Most of the ground was made up in the South. Late into Friday, feeders were passing bids of $188 and $189 cwt live. Eventually, 2 bidders would surface at $190 cwt live and another at $191. Many will await the report to see how good the cleanup is, but at new all-time highs, one would assume fresh show lists will be distributed Monday.
The Northern market was quiet for most of the week. Steady money bids were refused and met with significantly higher asking prices. Eventually, cattlemen would soften off their $200 live and $317 dressed asking prices. Trade would conclude at mostly $197-198 cwt live and $310 cwt dressed.
Looking ahead, discussion on the Cattle on Feed will cloud the market. However, cattle feeders will return to the higher asking prices. Packers will be busy calculating their needs and fuel prices as they continue to freight cattle from South to North.
