Markets were mixed today, although more positive than yesterday. Live cattle futures were higher, and if cash trade had waited until today to develop, perhaps the week’s cash prices could have been higher with encouragement from the futures.
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Cash cattle were unable to find much support, with the brunt of the week’s sales struggling to bring $114. Packers continue to reap high margins, with the Sterling Profit Tracker recording packers receiving $429.52 per head for the week ending Feb. 26.
The cattle industry has had a lot to stomach during the last few weeks: From the continued rally in the corn market, to the brutally devastating weather conditions that challenge cattlemen across the United States, to the fact that the legendary Ellington Peek’s Shasta Livestock Auction hosted its final weekly sale.