Fed cattle were called steady to $1 higher, though trade was not fully established late Friday.
Anecdotal evidence and supply observations suggest packers have recently had a negotiating advantage over feedlots. Packer margins continue to be wide and the supply of cattle on feed continues to be high.
A $6 per head decline in cattle feeding margins is tolerable, unless you were already losing $112.
Angus producer Barb Downey explains how she lost weight, improved her health and how beef was a part of that.
U.S. feedlots unexpectedly increased the number of cattle purchased in December compared with a year earlier, a government report showed.
The pain eased somewhat for cattle feeders last week, but losses remain more than $97 per head.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
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