Hulett: Erosion of Cash Continues
By Brad Hulett, Director, Customer Development & Regional Manager, Kansas, at Consolidated Beef Producers, Inc.
via Drovers - July 31, 2022
All the issues in the cash market continued again last week.† Cattle feeders had to fight for shackle space due to limited need from all packers.† This small amount of need by the packers kept all leverage away from the feeder which resulted in cash prices falling back to $135.
The northern regions continued in their erosion of the cash market, too.† Cash cattle ranged from $137 to $145 and dressed cattle in the lower $220ís.† The northern region is starting to see a little less need for cattle from the packers.
This week will probably bring nothing different than what we have seen in the last several.† Packers continue to have plenty of committed cattle around them...