Hulett: Cash Holds Firm
Cattle feeders did not have enough leverage to push the market higher last week but were at least able to hold it steady for the most part. Cash trade was mostly at $137 with a few lesser cattle bringing less than the market.
Feeders in the North continued to hold their advantage over the South. Cash trade ranged from $140 to $145 with dressed cattle bringing $225 to $230.
Several areas in the south saw participation from the four major packers. There was never enough need by any to push the market but could be a sign that packers may be getting shorter on committed cattle. Regional packers seem to have cooled down in the North, but all packers continue to have a need for higher quality cattle.
