Hulett: Higher Market Continues
Cattle feeders found themselves in a higher market for the second consecutive week. Texas started the trade in the South with a few producers accepting steady money early in the week. The majority of the cash sellers held out until Thursday and Kansas and Texas feeders were rewarded with $140 trades. The number of cattle that packers bought at this level was limited, and some producers decided to trade cattle at $138 on Friday and Saturday.
Packers in the North continue to be very short on numbers. Cattle feeders in this region continued to push their market even higher. Cash trade ranged from $145-$148 on the majority of the cattle with some trading even higher. $230 was the bid that seemed to trip most of the dressed trade.
This may be the last week producers have a shot at higher money. Packers will soon have all the cattle they need to get them through the July 4th holiday, and will likely look at reducing harvest numbers if the live cattle price continues to rise.
Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers, Inc.
