Fed Cattle Rally Reaches Fifth Week
Cash fed cattle traded mostly $3 higher for the week, the fifth consecutive week with higher prices. Live sales in the North were reported at $101 to $103, and cash sales in the South from $99 to $101. Dressed sales in the North were $163. Northern cattle continue to trade at a premium to those from the South.
August live cattle futures closed up $0.175 at $102.80 on Friday. October live cattle finished the day down $0.525 at $106.45, for a technically bearish weekly low close, and for the week fell $1.425. October feeder cattle futures ended Friday’s session down $0.375 at $146.40, also at a bearish weekly low close and for the week lost $0.25.
USDA estimated weekly cattle slaughter at 633,000 head, 13,703 head lower than the same week last year. The total year to date was 19.047 million head, 1.042 million head (5.2%) below last year.
Choice boxed beef closed Friday at $205.47 per cwt. $2.21 higher than the previous Friday. Select closed at $192.75 per cwt., $2.86 higher than the previous week.
Steers and heifers sold at auction steady to $3 higher, according to AMS reporters. The first full week of August saw 11% more cattle at auction markets than a year ago. Auction receipts for the week totaled 171,800 head, 35,700 more than the previous week.
