After a mostly sluggish April, market-ready fed cattle saw a solid rally in the North and steady money in the South. Futures markets began to look past the psychologically bearish H5N1 virus news.
With modest gains in the bred female category, both the young- to middle-aged bred cows and the aged bred cows saw January 2018 average prices higher than those of 2017.
In a light test at auction, December bred heifers posted $13 per head gains over November averages and finished 2017 about $55 per head lower than 2016.
USDA’s first National Feeder & Stocker Cattle summary of 2018 reported steers and heifers mostly $2 to $8 per cwt. higher as “buyers were back in the seats ready to fill orders.”
Feeder cattle and calves continued their fall rally in October, gaining 3% to 5% at auctions. Prices at the beginning of November are nearly 9% higher for both calves and yearlings than the August averages.
National Beef Packing Company announced it will begin a $30 million project to expand capacity of its Moultrie, Georgia, plant to produce consumer-ready beef products.