# Packers Chase Inventory, Prices Jump Higher - Drovers

> 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.

- Date: 2023-05-27 · published 2023-05-27T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4503-packers-chase-inventory-prices-jump-higher-drovers
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Tight slaughter supplies and firm boxed beef support fed cattle prices, while feeder futures gave back some gains.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| FCATTLE | 2023-05-31 | 5 | +15.6% | 7.7 | Packers bid up limited cattle supplies, lifting cash trade $3-5 and signaling strong near-term demand for cattle that carried through to feeders. |
| LCATTLE | 2023-06-06 | 5 | +4.4% | 3.5 | Packers bidding up limited supply lifted cash trade $3-5 and slaughter ran below last year, setting up the late-May price strength. |

## Sources

- drovers.com: https://www.drovers.com/news/beef-production/packers-chase-inventory-prices-jump-higher

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.