Hulett: Cash Creeps Higher
The cash market finally saw some life last week. Packers seemed to be in more need for cattle and finally were in a position to have to raise bids to get cattle bought. The South saw cash trade from $138 to $140 in all areas.
Cattle feeders in the North also benefited from the rise in the market. Several majors as well as regionals seemed to be short on cattle and pushed the market to keep inventory around them. Cash cattle were much like the South trading mostly $138 to $140 and dressed cattle bringing in the lower to mid $220’s.
The number of market-ready cattle should be at their peak and beginning to retract before larger spring numbers. This should help keep the market steady to higher this week.
Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers, Inc.
