Small Trade Volume Holds Market Steady
Feeders in the South did not see the trade volume last week like they did the week before. Most packers were on limited numbers, and kept the market mostly steady at $119-$120.
The Northern market continued to hold its premium over the South. Most of the cash cattle traded at $122-$124 with the bulk of the trade at the higher end of the range. There was some limited trade early in the week at $125. Numbers seem to continue to be short in the North and should help them maintain their premium.
Show lists are beginning to show some signs of cleaning up, but the day that most lists get sold each week is still several weeks down the road. Packer margins have begun to drop, and in turn many packers have started taking Saturdays off which will keep the small feeder backed up as the AMA’s continuing to keep the packer loaded with cattle.
