The abundant moisture that is keeping producers from marketing cattle is also setting cattle country up for favorable grazing conditions this spring and is also positively influencing summer grazing pastures.
Finished cattle continued trading steady for the fifth consecutive week. Early in this trend, one might say this was beneficial for cattle feeders as they were able to hold packers at bay and keep prices from falling.
Conditions were significantly different in April, 2018 with 34.85 percent of the state in extreme (D3) and exceptional (D4) drought conditions and just 41.72 percent of the state with no drought conditions.
Despite calf demand support, freshly weaned steer and heifer values have the potential to fall below $750 and $650 per head respectively which would equate to prices declining $5 more per hundredweight.