Hulett: Cash Cresting?
By Brad Hulett, Drovers
November 16, 2020
Hulett is Director, Customer Development & Regional Manager, Kansas at Consolidated Beef Producers , Inc.
Most cattle feeders in the southern region waited until late Friday morning before trading cattle.† Feeders were optimistic that a chance, if slim, was available to push the market higher than $110.† However, once the board broke, feeders saw their optimism vanish quickly with trade staying at $110.
Producers in the North saw their market trend with that of the South.† The North cash trade topped out at $110 and dressed trade was in the low $170ís.† Although the price had a significant jump, many of the cattle were sold with additional time, giving the packer a healthy inventory.† The additional inventory could give the packer leverage to work the cash trade market lower...