The August 2017 Feeder Cattle futures contract increased by $7.66/cwt. during November.
Cattle feeding margins held firm last week while packer margins more than doubled.
The government shutdown did little to dampen the enthusiasm drifting through the cattle markets.
Both cattle feeding and hog finishing operations found modest profits for the fifth consecutive week calculated on a cash basis, according to the Sterling Profit Tracker.
Cash cattle prices traded $1 to $2 ahead of Friday's USDA Cattle on Feed report which reported a 2.5% increase in the number of cattle in feedlots.
Cattle feeders were unable to push the cash market higher, settling for mostly steady money as packers were noticeably less aggressive with much narrower profit margins.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
Retail beef prices have come up in the past month, but they are down from last year.