Live Cattle Market Braces for the Dog Days of Summer
By ShayLe Stewart, DTN/Progressive Farmer
The lull of summertime has belittled the live cattle market. Boxed beef prices waned after the Memorial Day Weekend, and they usually don't see much traction until Labor Day. The market's deterioration then consequently works its way throughout the board and ultimately to cash cattle prices.
Last summer was especially painful as the market had to endure the usual summertime blip in prices, but also had to get through a monstrosity of backlogged cattle supplies. Thankfully, this year the market sits in a good position with market-ready supplies, but again, the problem lingers in the fine details.
Last week, for example, there were 75,811 of cattle that traded through the negotiated cash cattle market. Of that, 62% (47,149 head) were purchased for the nearby delivery, while the remaining 38% (28,662 head) were purchased for the deferred delivery.
Packers are some of the keenest businessmen ever known to walk the earth...