Feeder cattle found aggressive bidders the first full week of trading in 2017.
Last week’s $2.50 rally in the cash market was another step in the right direction, but closeouts remain $26.46 per cwt. short of break even.
Auction prices for calves were called steady to $5 lower by AMS, while yearling cattle traded steady to $3 lower.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
Chicago Mercantile Exchange live cattle contracts were weakened Friday by profit-taking and investor caution as they await the bulk of this week's cash cattle sales, said traders.
Farmers and ranchers in the Southern Great Plains are in a drought with conditions worsening since November.
Average cash cattle feeding margins remain more than $235 per head.
Provide the proper supplementation to meet the current needs of the cow herd or reduce inventory.