Slow holiday week pushes prices higher

As is expected for a holiday week, feeder cattle receipts were lower, but thankfully, that meant prices jumped.

Feeder cattle receipts at the test auctions dropped 20,000 head from the previous week which is normal for a Fourth of July holiday week. However, prices jumped quite a bit on the heels of the CME rally and were easily $2-7 higher with instances even higher as buyers actively bid on the limited numbers when they had the opportunity to hedge them at higher prices.

Looking at slaughter cows, it was another typical holiday type of week with very low volume of slaughter cows at the few auctions that were open. Last week the buyers were really aggressive pushing prices higher knowing the numbers were really going to drop and this week prices were basically steady to $3 lower after last week’s higher prices.

TAGS: Marketing
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