Cash cattle prices took a drubbing this week with fed cattle prices $4 to $5 lower at $144 to $145 per cwt. Dressed sales were reported $4 to $6 lower at $228 per cwt.
Feeder cattle and calves sold $5 to $15 per cwt. lower, and market cows were reported $2 to $6 lower on the week.
Boxed beef prices also trended lower on spillover news from the financial markets. Choice cutout prices Friday closed at $244.21, with Select at $233.12.
Analysts continue to worry about retail beef prices moving forward. Both pork and poultry are relatively cheap compared to beef, which has pressured cutout values in recent weeks. Still, many indications are that beef demand remains strong compared to a year ago.
Packers and retailers are hoping to see good beef movement through the pipeline through the Labor Day holiday, though they were disappointed by both Memorial Day and Fourth of July holiday beef sales.
