USDA Market News: Feeder cattle start 2012 much higher
Yearling feeder cattle markets saw continued strong demand during the first week of the year, analysts noted. Compared to pre-holiday sales three weeks ago, feeder cattle weighing over 700 pounds sold firm to $5 per hundredweight higher, with instances reported of $7 per hundredweight higher.
Calves were reported selling $5 to $10 per hundredweight higher.
“There are no superlatives left to describe the demand for calves,” USDA Market News reporter Corbitt Wall told Drovers Cattle Network. “Buyers entered the new year full of orders and optimism… and crowds remained active right up to the end.”
Analysts predicted cattle volume at livestock auction markets this week to be heavy, driven by ideal weather and excellent prices. “The pure desire to own feeders continues to drive the market,” Wall said.