Cash fed cattle prices were called firm to $1 to $2 per cwt higher this week, with reported trades in the North at $112.
Feeder cattle traded at auction firm to $2 per cwt higher on good demand. Agricultural Marketing Service reporters said calves sold “unevenly steady with some areas of the country showing advances on weaned calves and a decline on un-weaned or short-weaned calves. Demand was light for short weaned calves which is very typical for this time of year with unpredictable weather patterns.”
Packers continue to work with solid profit margins and slaughter rates remained aggressive. Estimated slaughter was 643,000 head, 7,000 lower than last week, 7,000 above of this time last year. Auction receipts totaled 64,000 head more than last week.
USDA’s Choice beef cutout value was $203.25 per cwt., down $0.63 from the previous week. Select cutout closed Friday at $191.74, down $1.70 from the previous Friday. The Choice/Select spread stood at $11.51.