This past week packers narrowed the North-South spread. Aided by potential deliveries, heat, and production cuts, showlists have more cattle in the position to be sold than the packers’ needs allow and has swung the leverage back in their hands.
Harvest, albeit up 3,000 head from a week ago, is still off last year’s pace and at a speed that is curtailing currentness and limiting the cattle feeders’ ability to clean up show lists. The National volume for the week sits at 97,342 head trading at mostly lower money.
The North saw the biggest drop in prices at around $2 per cwt lower than the previous week at $181- 182 cwt live and mostly $290-292 cwt dressed. Meanwhile, the South, encroaching tighter supplies, would see more support and would trade mostly at $178-179 cwt, call it $1 lower.
Looking ahead, packers will be working for a full harvest week. Cattle feeders will look to take advantage and give the market some footing at steady or something better. All eyes will be on the show list numbers.
