Negotiated cash cattle prices declined for the third consecutive week in a moderate to active trade. Wholesale beef prices also declined yet remain above seasonal averages.
Wholesale beef prices hit a recent low the end of March at $280.51 per cwt., but the steady march higher since then put Friday’s close as the highest Choice cutout value for that week on data available back to 2004.
Cash cattle traded lower in all regions while feeder cattle and calves were mostly higher. Many analysts remain optimistic that the spring highs are yet to be seen.
Misinformation and conspiracy theories regarding the use of mRNA vaccines in livestock continue, despite efforts of the scientific community, who emphasize, “mRNA from a vaccine will NOT be passed along in meat.”
Negotiated cattle prices fell short of steady on the week, though fundamentals point to further gains in the short-term. Cattle on feed found 4.4% fewer cattle at the bunk, but placements were mildly surprising.
How fair officials and the local sheriff, both unencumbered by intelligence, tarnished your image as a livestock producer and created a public relations disaster.
Passing on bids at record levels was common early last week and negotiated sales printed new record highs for the third week in a row. Analysts and cowboys are eyeing additional gains next week.
Packers chased finished cattle into the evening on Wednesday last week and the result was another rally in cash prices to new record highs, eclipsing the mark set in November 2014.
