Hulett: Struggles Continue for Feeders
Cattle feeders had high hopes early last week as the board was pushing higher to begin the week. These hopes were quickly squashed as the board began to sell off mid-week and feeders found themselves looking at a steady market. Cattle feeders had little choice but to move cattle at $138, steady with last week.
Feeders in the North did not fare much better than the South. Most cash cattle traded at $138, with a few trading at a level higher than that. Dressed cattle traded mostly in the lower $220’s.
Cattle feeders will likely face another turbulent market again this week. Many outside factors seem to be keeping the market in limbo. Many producers have been moving cattle that have a positive breakeven, knowing that right now there are no certainties in the market.
Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers, Inc.
