Hulett: Fighting For Dollars
Cattle feeders showed they have the resolve to fight for more during last week's cash cattle trade. In the South the trade occurred late Friday before feeders sold a few cattle at $113. Some cattle traded at lower money earlier in the week, but most feeders held strong to push the market higher. Packers were not able to fill all their needs last week and will find themselves with a greater need for cattle this week.
Feeders in the North pushed their market higher, as well, with live cattle trading at $110-$112, and most dressed trade ranging from $173-$177. Packers were pushing hard to get the cheaper cattle bought in the North, then haul them South an keep a lid on the market in both regions.
Strategy between the North and South this week could pay dividends. Packers in the South appear short on inventory. If feeders in the North hold strong and rely on trade in the South to be the driver, the North could be the beneficiary. The week has the makings of being two to four dollars higher in most regions.