Hulett: Packers Get Picky
The over-supply of cattle combined with a lack of interest from packers pushed the cash cattle market lower last week. In the South live cattle traded $108-$111 with most cattle at the upper end.
The backslide of the market took its toll on the North, too. Cash prices in the North were $106-$109 with most cattle trading on the higher end. The dressed cattle traded back at $170-$174.
The next few weeks are going to take patience and endurance from cattle feeders. A few different packers will begin their previously scheduled cooler cleaning or major renovations. The down time due to the maintenance will likely create opportunity for lesser packer participation in the cash trade. If feeders can weather the storm for the next several weeks, better times could be heading their way.