Prepared and written by Jeff Swenson, DATCP Livestock and Meat Specialist. The Market Update draws information from several sources, including trade publications, radio broadcasts, agricultural news services, individuals involved in the industry as well as USDA NASS and AMS reports.
This is the second week of higher cash cattle after a long stretch of prices unwilling to budge. There are signs pointing to packers needing cattle to meet beef demand, and many cattle feeders are using that to hold out for higher bids.
Last week’s harvest estimate was 646,000 head, down slightly from the previous week, but about 20,000 head lower than the levels we had seen early in 2021.