Corbitt Wall with USDA Markets News gives the feeder and stocker summary for the week ending June 27.
Calves and yearlings sold $4 to $10 higher this week with high demand and incredibly active trading. Most gains were on 6-weight cattle, cattle over 800 pounds saw the least gain.
Several states from Nebraska to Montana saw high sales this week. In Montana, all-natural, hormone-free cattle saw some added value with this marketing method. Also, the Montana and Wyoming ranchers are increasingly growing their herds due to improving pasture conditions across those states. In another three years or so, Wall says, those numbers will start building back up.
Wall believes that the market is getting close to the ceiling. While he doesn’t know how many dollars away the ceiling is, he does believe that the market is weeks away from reaching the top and prices will start backing off. The dog-days of summer are generally a time when the market drops off; however, what the market will do this summer is yet to be seen.
Watch Corbitt Wall’s full report on Beef Today’s Cattle Markets Center.