Cattle in a feedlotCash cattle in the South saw significant activity last week at $178, as the North stayed steady at $185. It is believed packers have given up some inventory with aggressive kills and historic box beef prices. The national volume is at 90, 579 head, 39,000 less than last week.

Meanwhile, harvest this week was reported at 644,000 head, 5,000 shorter than the week prior but 3,000 ahead of last year at this time. Reports of quick ships are occurring in all cash cattle regions, possibly related to the tighter-than-normal available supply. After the Independence Day holiday and erratic harvest schedules, analysts expect cash cattle to move higher.

Read more on cash cattle prices and activity here.