Morning Livestock Report, 10/07/2015

Wednesday, October 7, 2015

The cattle markets traded higher from the start yesterday, with a seemingly growing number of traders/analysts/commentators now calling the bottom. This as the boxed beef market finally showed some signs of stabilization yesterday, with the choice cutout up a modest $0.20 on the afternoon report, which was the first daily gain we'd seen in almost a month. One day doesn't make a trend, though, and we'd still view stabilization in the cash cattle market as more important for the industry. We've not seen any cash trade yet this week, where early packer bids in the north were shown yesterday at $182 dressed, $5 lower than the averages last week. I also sense the industry was surprised with only 15 deliveries posted on Monday night, perhaps signaling there are fewer "unsold" cattle than we'd feared?? Unless deliveries were limited by the fact that we just don't have cattle that can meet the weight limits.... Those 15 loads delivered Monday night were all retendered, none demanded, and another new 13 loads were posted in Dodge City last night.

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