MARCO ISLAND, FLA. (RFD NEWS) — The cattle market has softened from its summer highs, but tight supplies continue to support prices as producers move into the fall run.
Ted Odle with Superior Livestock joined us on Friday’s Market Day Report with an update on their latest video auction, which he said produced a solid trade, particularly for high-quality cattle.
“All in all, we had a pretty good sale,” Odle said, noting that high-quality cattle are continuing to sell very well.
In his interview with RFD News, Odle said that 800- to 825-pound steers brought roughly $3.25 to $3.35 per pound, depending on region and quality.
Heifers weighing in the upper 700-pound range to nearly 800 pounds brought similar prices.
The calf market is moving into the later stages of the fall trade, with Odle pointing to a set of 565-pound steers in eastern Montana that brought $4.25 per pound.
“Even though it’s a little softer, the market’s still not in terrible shape if you look at the big picture,” Odle said.
Tight Supplies Remain a Market Factor
Looking ahead 30 to 60 days, Odle said cattle supplies remain the key fundamental.
“We have not increased our numbers, and it’s going to be a long time before we do,” he said.
Odle expects some ups and downs in the market but said tight supplies could provide opportunities for the cash market to strengthen.
He said buyers will eventually have to step in and purchase cattle as available supplies remain limited.
“Guys need to buy cattle or are going to have to step up and buy some cattle at some point if they’ve got pens that they need to fill,” Odle said.
Marketing Decisions Become More Important
As the fall cattle run continues, Odle said producers should be careful not to wait too long for higher prices.
He said some producers chose not to sell earlier because they expected the market to continue climbing.
“At some point, you’ve got to pick the market you like,” Odle said.
Odle also encouraged producers to use multiple marketing methods, including auction opportunities, because of today’s cattle market volatility.
“We’re big believers in the market method,” he said. “I think the auction method, I think you’ve got to use the auction method in some way or another to market your cattle because in today’s world, you just don’t know where they’re going to bring.”
He said the latest sale demonstrated that uncertainty, with some cattle bringing considerably more than expected.
Odle said Superior Livestock continues to offer live auctions every two weeks, while its Country Page provides an opportunity to sell cattle every day. He said those opportunities give producers ways to market cattle through the rest of the year and into the next.
Producers can find available marketing options and the upcoming auction schedule on Superior Livestock’s website.
LEARN MORE: superiorlivestock.com
