Feeder cattle auction sees stronger volume, prices
A livestock auction official says there was a noticeable bump upward in the feeder cattle market Wednesday.
Curt Larson with Equity Cooperative Livestock Sales in Baraboo, Wisconsin tells Brownfield the volumes are a little stronger this week than last week, and prices have improved significantly. “I think there’s a little bit more demand from the packers side this week. You know, Tyson did come out with some extra money in the market this week. I think that helped prop everything up a little bit.”
Larson says the Wednesday feeder cattle sale was encouraging with better prices, especially at their Waukon, Iowa sale. “It’s not a big surprise I guess given where we’re seeing the futures markets right now and kind of what we’ve seen with the fed cattle this week, but I guess if guys have room and have feed, they want to get filled up before this thing goes to the next step, whatever that might be.”
Larson says it’s too early to predict any market trends. He says there was a lot of wait-and-see among producers last week, and some sellers decided to move some cattle this week, but with the coronavirus uncertainty, Larson believes many producers are still watching and waiting.
Equity Cooperative Livestock Sales is using additional precautions during the COVID-19 coronavirus outbreak. Details are on their website, here.