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Mid October Livestock Market Recovery

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Amongst the plethora of
bad news the media offered
this week,was a bright spot;
the substantial recovery
of the calf market. According
to cattlerange.com,”the
calf market rebounded aggressively,
instances 25-
20$/100lbs. For calves between
450-550 lbs.”
The recovery comes at
a time when many cow/calf
producers are selling their
2015 calf crop,and especially
locally as dry weather
prevails.
Many buyers of feeder
cattle (650-900 lbs), got back
in the market after waiting
to see when the calf market
collapse would end. The
Midwest is receiving beneficial
rainfall on newly drilled
wheat, (64% completed in
Oklahoma) and stocker operators
need to fill empty
pens.
A basis for the sharp recovery
was the triple digit
gains in the futures complex
Friday,which further
brightened the entire beef
market outlook. Fed cattle
traded much higher after
grocers,and in particular
Walmart, promised aggressive
red meat specials thru-
out the end of the year.
According to cattlerange.
com,”Retailers will now be
aggressive in looking for
beef, anticipating bargain
prices,and in turn offering
these “bargains” to consumers.
Livestock auction receipts
were large locally,
with 40% of the calves offered
weighing over 600 lbs,
and heifers making up 38%
of the offering.
Hope Livestock sold
1,653 head last Thursday;
22 cows, 7 bulls and the balance
calves and weighing
between 150 and 800 lbs.
Market owner/operator Darrell
Ford called the market
higher, especially for calves
with less flesh.