There's a processor shortage. I can buy live cattle dirt cheap. A few weeks ago canner cows were 25 cents a pound and well finished Angus steers were only 75 cents a pound.
Keith
I don't think your small local sale barn report is an accurate representation of the entire market. Canners and cutters prices have actually been "strong". I sold an old broke mouth cow a few weeks ago that brought $50/CTW, and she was embarrassingly skinny. That's considerably higher than she would have brought a couple years ago. My neighbor feeds and sells fats every week, the lowest they've brought was in the .90s. Still not enough to break even, but there was likely an issue with any fat steer selling for .75/lb. Our local barn is pretty big though, and the manager works with the buyers and tells the guys selling fats when to bring them and when to keep them home. That may not be the case at the smaller barns.