Feeder cattle and calves sold mostly steady to $2 lower across much of the country, but mostly steady to $2 higher in the Southeast, according to the Agricultural Marketing Service (AMS).
"Record prices have leveled off the last couple of weeks with the fed cattle market struggling to hold its ground and most of the more aggressive stocker orders having been filled,” AMS analysts explained Friday.
“Ten days ago packers were short bought and now they're not,” John Otte, Penton market analyst explained Friday. “That means they don’t need to chase supplies. That's letting cash fed cattle prices drift lower, which pressures fed cattle futures.”
For the latest information about the markets, listen to the Cattle Market Weekly Audio Report every Saturday morning on the BEEF magazine website. This is your report for Saturday Apr. 19, 2014.
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