Hulett: Cash Tops Out
Cattle feeders in the South found themselves with a steady market last week. Cargill was the first packer to support prices at $124 and the other three packers entered into the market later in the week at $123.
The market in the North was steady to a little softer. Cash prices were mainly $126-$129 and dressed cattle remained in the low $200’s. Trade volume in the North was somewhat limited like the South.
Packers continue to struggle to get back to pre COVID harvest numbers. This issue, combined with the amount of feedyard capacity that has been added during the last several years, may put cattle feeders in an uphill battle to ever gain any type of leverage in the cash market.
