Cash fed cattle trade was active on Wednesday, surging $2 to $4 higher the day before Thanksgiving, with demand strong in all major cattle feeding regions.
The cash cattle market continues to be the best broken-record producers ever heard of late as three of the four major packer participated in the live trade last week.
Packers were aggressive in obtaining inventory to start the new year, and the result was a cash cattle market that gained $2 in both the north and south.
The National Cattlemen’s Beef Association and Nebraska Senator Deb Fischer are asking President Donald Trump to investigate possible irregularities in the cattle markets over the past several weeks.
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.
Packers were fairly aggressive in their drive to increase their inventory. Cash traded mostly on Thursday, but packers took on additional cattle Friday at steady money.
Poor performance from CME futures on Friday limited what cattle feeders could gain back on the cash market from the declines over the last few weeks.
Strong wholesale beef prices keep packer margins solidly profitable and encourage packers to be aggressive participants.