Negotiated cash fed cattle trade was called “moderate to active” this week. Surging box beef prices coupled with improved feedyard market leverage spurred prices higher.
Cattle in the South traded $103 to $105 per cwt. Cattle in the North traded at $105 to $107, with Nebraska dressed sales at $165 to $170 per cwt., $2 to $7 higher.
CME Live Cattle closed mixed and CME feeders were slightly lower. October Live cattle rose 57.5 cents to $110.15 and December gained 27.5 cents to $112.825. September feeders fell 57.5 cents to $147.375.
Friday’s Choice Boxed Beef price was $214.04 per cwt., $8.57 higher than last week. Select boxed beef sold at $199.24 per cwt., $6.49 higher than last week. Estimated slaughter was 640,000 head, 7,000 more than the previous week.
Steers and heifers sold uneven at auction from $1 lower to $3 higher, according to Agricultural Marketing Service reporters.