With packers enjoying historic profits, cattle feeders asked for – and finally received – higher money Friday. Cash fed cattle traded at mostly $115 per cwt., with dressed trade at $182. The rally may bring feedyard closeouts back to breakeven levels.
At auctions, steers and heifers sold $1 to $5 per cwt. higher, with instances $6 to $8 per cwt higher, according to AMS reporters. Demand was reported moderate to good nationwide as more optimism was evident in the marketplace.
Export sales continue to show strength despite the rising value of the U.S. dollar. The Choice cutout closed on Friday at $226.21 per cwt., down $1.32 from the previous Friday. Select cutout traded at $203.18, down $1.62 from the previous week. The Choice/Select spread was $23.03.