Cattle Prices Soften Ahead of Thanksgiving

Cash fed cattle prices were softer throughout all regions. Fed cattle in the south traded at $124 per cwt., about $1 lower, with prices in the north at $122 to $123 per cwt., steady to $2 lower. Dressed sales in the north were $190 to $194 per cwt.

Lower prices followed two weeks of higher prices in which the market added $14 to the price of fed cattle. Most packer needs are thought to be fulfilled ahead of the Thanksgiving Holiday.

Feeder cattle traded steady to $5 higher. Boxed beef cutout values were $5.11 higher for the week on Choice, but just $1.43 higher for the week on Select, which closed at $194.51. The Choice-Select spread was $19.34 per cwt., compared to $15.66 the previous Friday.