Hulett: Cash Finding Momentum
Last week began with cattle feeders in Texas, who still had some problem cattle, trading at $124. This was short-lived and everyone with better cattle held on for higher money. Wednesday led to higher prices and all feeders in the South took advantage of $126 per cwt. bids from all packers.
The North also took advantage of the rising prices. Cash trade was mostly $126-$127 per cwt. with dressed cattle at $200. The North also found multiple packers participating in the market.
This week should see cash push higher once again. The numbers of cattle being offered continue to be short and should push some leverage back to the cattle feeder’s side. Feeders are optimistic that this trend will continue until we get to the beginning of the holiday rotation.
Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers , Inc.
