Packer Inventory and Margins Stall Cash Rise.
Brad Hulett, Drovers
January 13, 2020
The board’s $.70 gain at close supported the cash and higher money cattle feeders thought close at hand on Friday. However, lack of packer support in the market quickly eroded the market for a negative outcome in cash trade.
In the south, one packer participated in competitive trade, while others cherry-picked the showlists, or failed to show at all. Lack of players forced feeders to take the $124 that was offered or carry cattle into the next week.
The north traded mostly at $124 with some cattle in the east bringing $125 and dressed cattle at $200.
Surplus packer inventory, and halted Saturday kill due to dwindling margins has stalled out the cash market. With the reduced trade numbers....