Cattle feeders were able to push cattle prices higher this week following advances in the futures market. Cash prices had been stuck in neutral for six weeks, but Friday’s trade occurred at $114 to $115 per cwt., $3 to $4 higher. Dressed trade jumped $6 to $7 higher at $180 per cwt.
In Chicago, CME December live cattle gained $1.325 to close at $118.40 and up $1.625 for the week. February cattle gained $2.30 this week.
Steers and heifers sold at auction uneven, at $2 lower to $2 higher, according to AMS reporters. Auction receipts were the highest since January 12, 2018, at 357,700 head.
“Several auctions in South Dakota had two sales this week to accommodate producers willing to sell cattle, and the state accounts for over 18 percent of the auction receipts,” AMS reported.
Steer dressed weights for week ending October 13 was listed at 899 pounds, 4 pounds below the previous week. Muddy pen conditions and lower temperatures nationwide the first week in October were contributing factors to the drop in weights.
For the week, the Choice beef cutout closed $5.54 higher at $213.47 per cwt. Select cutout was $4.59 higher at $198.83.
