Cash Market Spread Narrows As Prices Tumble
Cash fed cattle markets continued to fall as they have for the last several weeks. The South traded most of its cattle from $105 to $108 with some cattle trading even lower. As the harvest continues to grow, the need for cattle by the packers also grows.
The North held to similar trading ranges. Its cash market mostly ranged $103 to $108 and dressed cattle brought $162 to $170.
Cattle harvest is now approaching 660,000 head and with added carcass weights the amount of beef production is growing rapidly. As the cash price continues to falter so does the boxed beef price. If there is any hope in getting through this large pool of market ready cattle the industry will need to see huge beef demand to encourage packers to continue large harvests.
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