Steers and heifers sold at auctions this week steady to $3 lower. AMS said with the holidays and the end of the year fast approaching, many auction markets saw heavy runs of cattle.
To date, Eastern Livestock Company owes $130 million to 743 sellers in 30 states.
A Texas-based marketing cooperative is working with beef packers to sort off the fattest cattle in member feedyards for harvest in an attempt to keep cattle from becoming overfinished.
Close to record high inventories with strong placements. One week to think about it and then the futures market reacted hard.
Over the next few weeks patience and a calm trigger finger could be profitable to the cattle feeder as the supply of market-ready cattle declines.
Muddy pen conditions in all major feeding regions have left many fed cattle owners willing sellers at steady money.
Cattle futures extended a rally to an all-time high as prices are poised to cap the longest string of annual gains in five decades.
The fluctuation in the cash price in this trade seemed to be mostly dependent on the location of the cattle, with prices ranging from $114-$116, with dressed trade at $182-$185.