It seems as though fall run is in full swing as we see larger volumes of cattle showing up every day. Feedlots have mostly finished putting all the feed in the yards and are now stepping up to the plate to put some cattle in. All classes of cattle sold into a very active market, but the cattle under 500lb sold noticeably stronger on the top-quality ones. An interesting thing to note is that with the futures rallying the past couple of weeks, and feedlot cost of gains moving towards the feeders, these calves trading today are very close to hedging the break-even - something we haven't seen in over a year.

The cows sold very strong, $5 stronger across the board, which is very counter seasonal and somewhat hard to explain, but cow sellers are certainly smiling!
- Jesse Lawes