The lack of aggressive trade was noticed mostly in the south where cash trade could not get any higher than $1.00 last week.
When Farm Journal first met Patrick Montgomery last year, the three-year-old business was just picking up steam. Thanks to some new-found fame, KC Cattle Company has since taken off.
Cash cattle prices moved higher again for the sixth consecutive week, with the North still trading premium to the South. Feedyards in the South appear to be cleaning up faster than expected.
On Wednesday, Nebraska rancher Casey Schuhmacher and California rancher Jack Lavers talked through the cattle industry’s response to the COVID-19 pandemic and its disruption on AgriTalk’s Farmer Forum.
The cash cattle market reached its tipping point and began backward movement, but indications are that it will be short-term.
The ongoing drought has impacted all segments of the cattle industry, and some of the hardest hit have been beef cows.
High cow slaughter rates continue in spite of some of the best pasture conditions in 15 years.
While the CME futures was under distress last week, hedgers were able to receive the best basis they have seen for several weeks and the result was a steady cash market.