Fed Cattle Steady, Feeders Uneven

Fed cattle sold steady to $1 lower. ( UNL )

Cash fed cattle prices on the plains traded at $109 to $110 per cwt., steady to $1 lower than last week.

Feeder steers and heifers sold uneven at $3 lower to $3 higher at auction markets across the nation. Agricultural Marketing Service reporters said instances of North Central auctions calling their markets $8 to $10 higher in some weight groups.

Joplin Regional Stockyards sold in excess of 17,000 head over two auctions with another video sale scheduled for next week.  Most cattle at auctions this week were described as “very high quality.”

USDA’s Grain Stocks and Acreage reports saw corn acreage estimated at 91.7 million acres and soybean acres at 80.04 million acres as of June 1.

For the week, the Choice cutout closed $0.16 lower at $219.66, while Select was $3.99 lower at

$195.56.  Cattle Slaughter under federal inspection estimated at 665,000, 3,000 more than last week and 16,000 more than last year. Auction volume this week included 53% weighing more than 600 pounds and 42% heifers.

Related stories:

Profit Tracker: Feeding Losses Reach Triple Digits

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