Cash cattle traded higher again and all four major packers participated in last week’s trade, including Tyson for the Finney County, Kan., plant.
Packer market participation wasn’t as robust as it had been in earlier weeks, and packers have slowly added to their inventory ahead of the holidays.
Strong wholesale beef prices keep packer margins solidly profitable and encourage packers to be aggressive participants.
Packers were still hunting front end cattle late last Friday, knowing that feeders would have their sights set on a higher December board for the trade this week.
Beef packers continued to show signs that they still need cattle to meet the demand of their customers and paid higher prices last week.
Cash cattle markets backed up last week from a steady upward movement due to a boiler explosion, and the three days of unexpected downtime at Cargill’s Dodge City plant.
Cattle feeders continue to take advantage of the advancing cash market, with higher sales in all regions last week.
The upward trend in cash cattle could continue through the holiday rib demand, with Choice product being in short supply.