Cattle Markets Steady to Higher as Grilling Season Approaches
Cattle markets held steady to stronger as the seasonal bump in demand from Memorial Day, Father’s Day and 4th of July lies ahead.
Yearling feeder cattle sold fully steady to $5 per cwt. higher with the full advance found on the heavier yearlings over 800 pounds. Steer and heifer calves sold steady to $5 per cwt. higher.
Cash fed cattle traded steady with the previous week in a light trade that developed late in the week. Cattle in Nebraska and Iowa-Southern Minnesota sold on a dressed basis at $256.50 per cwt. A limited cash trade in the Southern Plains found cattle moving at $161 per cwt.
Boxed beef prices posted all-time highs on Thursday at $264.74, before closing $2.81 lower on Friday at $261.93, $3.81 higher than the previous Friday. Select closed Friday at $251.10 per cwt., $4.28 higher than the week before.
Slaughter cows and bulls sold mostly steady to $2 per cwt. higher.
USDA's Cutter cow carcass cut-out value Friday afternoon was $232.10 down $1.24 per cwt. from last Friday.
