Hulett: Packers Push for More Cattle
Trade in the South developed early again last week. Wednesday morning began with a couple of regional packers buying cattle at $121. This trade was limited, and as the day went on the majors came to $120 and feeders began to traded cattle. Producers saw bids up to $123 by the end of the week.
The North continued to see a rise in prices, too. Dressed trade was mostly in the mid $190’s, with cash mostly $123 with a few trades towards the end of the week reaching the mid $120’s. Producers in the North continue to be in the transition from yearlings to calves, which is keeping supply low, and making packers more aggressive for what cattle are available.
Most of the industry believes that live cattle will be higher again this week. The movement of the boxed beef prices over the last several weeks indicates that there should be plenty of upside potential in the negotiated cattle trade.
