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...

 

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https://www.drovers.com/markets/market-reports/hulett-cash-cresting