The cash cattle market slid for the first time in 6 weeks. Pressured by headlines, a weaker board would provide incentive for the South to leak $1 off the market, at mostly $186 cwt live. This would establish the tone for the North and the trade was on. $190 cwt live and $301 cwt dressed would trade a bulk of the cattle. By Friday’s eve, at least one packer was still working to meet their needs and paying up to do so, $192 cwt live and $302 cwt dressed—Steady with the week previous. Look for those trades to surface in the Monday report.
As of Friday, 91,000 head exchanged hands and that number should increase when the summary prints Monday. Similar to last year, show lists are not pressed with numbers, packers continue to freight cattle across boundary lines to meet their needs. As long as that continues cattle feeders should look to maximize their leverage.
Looking ahead, the holiday is behind us and the industry should look for an increase in the harvest pace. Many will anticipate carcass weights to see some reprieve as more calves have entered the supply line. Lists will remain manageable and the packer needs are still present. Cattle feeders should look to gain ground from last week and packers will await the next headline to catch their breath.
