Hulett: Cash Softens Following Holiday
Cash cattle markets in the South turned a little softer last week in the days following the Independence Day holiday. Cattle feeders had little competition from packers, which took all leverage away. Cash cattle traded at $137 in the South with mainly only two packers buying any cattle.
The North was able to keep premiums high for certain areas but saw the lower end begin to fade some. Cash trade ranged from $144 to $150 with dressed cattle bringing $228 to $232.
Packers look to be in control of the market. Feeders will be hard pressed move the market higher and may be in a battle to keep it from slipping again this week. If little to no competition continues from the packer, cattle feeders will have their work cut out for them.
Brad Hulett is Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers, Inc.