Market Alley: Feeders gain traction with needed cattle inventory

Cattle feeders were able to stick together, using their leverage to gain traction and increase the market.  Cattle in the South brought up to $115 per cwt., with cattle in the North $115 live and up to $184 dressed. Over the past weeks, show lists were not overly long, yet, packers had the upper hand with their forward bought inventory, driving the market down to $110. With inventory less available, the feeder was able to use that as leverage and take advantage by gaining $5 back in the cash trade. Currently in the yards, it feels that packers are still playing the need for inventory, week to week. –Drovers CattleNetwork Read more…