Cash cattle prices traded higher last week, and for the first time in several weeks most of the major beef packing plants should be up and running this week, though not full-throttle.
Cattle prices are on a historic ride. Producers are trying to make sense of it all, as well as industry insiders, as the COVID-19 story is far from over.
Higher prices anticipated in 2012 with analysts expecting the cattle cycle to post its high in 2013.
All cattle feeding areas were able to take advantage of the packer’s need for cattle last week and cash prices moved higher.
The upward trend in cash cattle could continue through the holiday rib demand, with Choice product being in short supply.
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.
Fed cattle continue to trade higher as feedlot placements increase.
Texas congressman Mike Conaway told AgriTalk radio he believes an investigation into packer profits is likely, but encourages cattlemen and processors to continue working to feed Americans during the COVID-19 crisis.