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Packers bid up a limited supply of higher-grading cattle, lifting North live trade $3 to $5 per cwt to $180-$182. Choice boxed beef rose $2.83 on the week and weekly slaughter ran 16,000 head below a year earlier.
Tight slaughter supplies and firm boxed beef support fed cattle prices, while feeder futures gave back some gains.
drovers.comMay 27, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Packers bid up limited cattle supplies, lifting cash trade $3-5 and signaling strong near-term demand for cattle that carried through to feeders.
Packers bidding up limited supply lifted cash trade $3-5 and slaughter ran below last year, setting up the late-May price strength.
