Hulett: Cash Cattle Mostly Steady
Cash cattle trade remained mostly steady in all areas last week. The South traded most of their cattle at $121, with the exception of some cattle that brought $122 which will be headed South for harvest.
The North saw a few cattle bring a premium on Monday, but most cash cattle traded $123-$125 and dressed cattle still in the upper $190’s. Market ready numbers continue to be short on the eastern side of the region, helping to keep this area receiving most of the cash premiums.
The out-front futures tells producers that the cash cattle market should rally moving forward. Packers have done a great job of keeping their inventory in line and keeping a close eye on the daily harvest. Producers will have some decisions to make as we go forward. Many feeders are in a position to dig in and fight for higher prices. On the other hand, many feeders are keeping a close eye on the rise of Covid issues and don’t want to be sitting on a large show list if there is a disruption in cattle harvest.
