Believe it or not, but some of the nation's biggest auction facilities are preparing to host their first big feeder cattle specials of the summer in the upcoming weeks.
Superior Livestock Auction is prepping for their Corn Belt Classic sale this upcoming Thursday, June 17, in Sioux City, Nebraska, where roughly 51,000 head will be offered. The sale's consignments consist of 13,950 yearling steers, 8,150 yearling heifers, 7,100 weaned calves, 19,150 calves still on the cows and then some bred stock. Following that sale, Northern Livestock Video Auction will be debuting its Early Summer Special on June 24, where roughly 10,300 head are consigned. Then, in July, Western Video Market will be full bore with its sales as well.
The market will be glued to watching how these cattle sell and what the market's underlying tone will be. With drought spreading throughout the majority of the cow-calf states, and with corn prices still extremely volatile, the market has a lot of hurdles to overcome if cow-calf producers are going to see any profit taking. While the market's fundamental dashboard may be clouded with skepticism, we cannot discredit the fact that beef demand is high and that the nation's cow herd is regressing. That should have a positive effect on feeder cattle prices.
More than anything, cattlemen are looking for a sense of what the market could be in the weeks to come. Dealing with unfavorable prices is one thing, dealing with drought and high feed prices is another, but if one can lessen the chances of being blindsided by more challenges, you will have a better chance at overcoming the hurdles.
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ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
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