Cattle markets continued under pressure in the first full week of trading following the Labor Day holiday.
Feedyards aggressively placed cattle on feed during October, which may fill any marketing hole expected late this winter.
The nation hasn’t seen such a small beef cow herd in decades. Now many producers who survived the recent drought are focused on rebuilding. The question is, how long will it take?
Another small rally in cash fed cattle markets provided another modest improvement in feeder margins, but closeouts remain $24.66 per cwt. short of break even.
Last week saw dramatic improvement in cattle feeding margins, yet triple-digit losses remain.
We are now fully transitioning into a primary calf selling time of the year for cow-calf producers and into an active buying time for stocker producers.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.