Big Muddy rancher
Well-known member
The Fed Market Roars
The industry was reminded last week of just how fast and volatile the market can be; this time, in a good way. On Wednesday, fed cattle were trading $2-$4 higher than the previous week; $85-$88 in the Northern Plains, and $86-$87 (a few at $87.50) in the Southern Plains. That was on top of a $2-$3 jump the prior week. So, inside of about 10 days, as much as $7 higher.
Maybe it was packer buyers finally getting caught short. Maybe there was some emotional premium surrounding rumors that Japan would finally make an announcement about when it would resume importing U.S. beef. Whatever the reasons, the steamy week gave feeders a chance to get closer to nose-bleed seat break-evens, and plenty of incentive to move show lists.
from Beef Stocker trends.
The industry was reminded last week of just how fast and volatile the market can be; this time, in a good way. On Wednesday, fed cattle were trading $2-$4 higher than the previous week; $85-$88 in the Northern Plains, and $86-$87 (a few at $87.50) in the Southern Plains. That was on top of a $2-$3 jump the prior week. So, inside of about 10 days, as much as $7 higher.
Maybe it was packer buyers finally getting caught short. Maybe there was some emotional premium surrounding rumors that Japan would finally make an announcement about when it would resume importing U.S. beef. Whatever the reasons, the steamy week gave feeders a chance to get closer to nose-bleed seat break-evens, and plenty of incentive to move show lists.
from Beef Stocker trends.