We ended last week with the cash cattle market never really getting off the ground. I hear of some light $127 business on Friday in KS, steady with the prior week, and some additional $124-125 live equivalent business in the North. Smaller and smaller weekly negotiated trade volumes have been a trend in this industry for years, but I suspect the issue was compounded last week with nasty weather leaving producers unwilling to move inventories at steady or lower prices. We haven’t seen the sun since Tuesday here in KC and this whole region from El Paso to Canada has seen a wintry mix of snow, freezing rain, and drizzle which no doubt is impacting cattle performance. Upwards of 5-12” of snow is expected in NW IA today. Total weekly slaughter coming in at just 462K head, vs 492K head this same week last year, and smaller than expected due to weather troubles late last week. Do note the boxed beef markets traded firmer last week, up $1.26 in the choice and $4.55 in the select, with additional seasonal strength expected through mid-month.
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