Aberdeen-based Hub City Livestock had a feeder cattle sale on Wednesday, but only 500-to-700 cattle were sold. Co-owner Steve Hellwig says normally there would be about 5,000 head through the ring. “We’ve told our local producers if you don’t have to sell, don’t do it. It’s been so deflated here with stuff going on that we need time to let everyone take a deep breath.” The cattle markets have been on the decline due, in part, to the stock market’s reaction to the coronavirus. Hellwig says there’s still good demand for cattle, but air got taken out of the bag. “It’s been holding up better than most people expect. Most people just hear what the futures are doing, but futures and cash cattle aren’t going hand in hand. The (cash) cattle were holding up better than people thought.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.