In looking at the history of the 2014 cattle market and its behavior, we have much to correlate to today's market. Metzger hit on an important point when he said, "In markets like these, it pays not to be traditional." The market is in a new cycle where our nation's cowherd is dwindling, and we've yet to see drought culling practices subside, as even though some regions have gotten moisture, others haven't. Given that the feeder cattle market was up $2.00 to $2.50 higher throughout Tuesday's market, thanks to a weaker grain complex, who's to say that prices can't be higher again later this week? On Thursday, June 22, Northern Livestock Video Auction will host their Early Summer Special where 12,900 head of cattle are scheduled to sell. In markets like these it pays not to be traditional, and there's more opportunity now than what's been available in a long, long time."Įven though last week's sale was just one test of the market and thousands of cattle are still left to be sold and marketed in 2022, it's indisputable that a higher tone has set the market's precedent. Metzger went on to say, "There's always risk in this business, and from one week to the next, things can change, but our saving grace this year, and most likely into next year, will be that our inventory is so low. The combination of tight supplies, dwindling carcass weights, packers pulling cattle ahead, a stronger board and the news story of the dead cattle in Kansas all helped push prices higher and make for very happy sellers." Fundamentally speaking, the industry is sound, but the outside pressures weighing against the market are a sizeable concern. The market easily saw $20 to $30 per hundredweight more than the 2021 sale, and in some cases, even more than that.ĭennis Metzger, a Superior representative who's well known throughout the industry, said, "Truthfully, no one knew what to expect. Throughout the sale, in its varying regions and weight divisions, higher year-over-year prices were seen. Listed below is the comparison of the Corn Belt Classic's sale prices for the three-year span of 2017, 2018, 2019, the 2020 average steer prices, the 2021 average steer prices and obviously the newest and latest prices of the 2022 average steer prices for region 2 and 3.Ĭlick here to access Superior's Market Report to see other regions: …
Prices were strong throughout the U.S., pairs sold for $1,625 to $2,585, cows averaged $1,675 and bred heifers averaged $1,725, but what really grabbed everyone's attention last week were the calf and feeder cattle prices. There were 13,670 head of feeder steers, 9,700 head of feeder heifers, 9,900 head of weaned calves, 18,300 head of unweaned calves, 14,600 head of beef/dairy crosses and 330 head of bred stock sold through the sale. Last week, Superior Livestock Auction sold 66,500 head of cattle in their Corn Belt Classic sale in South Sioux City, Nebraska.
Last week gave us a good understanding of what calves and feeders in 2022 are going to be worth - or at least a starting point was established for the rest of the year to work with. For as much as we like to rely on the futures market for forecasting prices, an animal's worth isn't completely known until a hand is shook, the auctioneer cries sold, or a check is signed. Trying to gauge what feeder cattle are going to bring in the year ahead is always a gut-turning, number-racking, anxious and mindboggling venture that can take a turn for North or South without any considerable notice. Even though last week's sale was just one test of the market, and thousands of cattle are still left to be sold and marketed in 2022, it's indisputable that a higher tone has set the market's precedent.
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