Markets: Cash Cattle Finish 2023 Moving Higher
Cash cattle prices closed 2023 with higher prices for the second consecutive week. Cattle in the North traded at $172 to $174 per cwt. and $273 per cwt. dressed, generally $1 to $2 higher live and $3 higher dressed. Cattle in the South traded at $172 to $173 live, $1 to $2 higher.
Cash cattle declined $18 per cwt. from Halloween until the week ending December 22 when they advanced nearly $2 per cwt.
Wholesale beef prices were lower for the week. Choice boxed beef closed Friday at $289.71 per cwt., down $1.42 per cwt for the week. Select boxed beef sold Friday at $260.33 per cwt., down $1.04 per cwt. from the previous week.
Weekly estimated cattle slaughter was 508,000 head, down 113,000 from the previous week and down 27,000 from the same week a year ago. The year-to-date total was estimated at 33.243 million head, down 4.2% from 2022.
February live cattle futures fell 42.5 cents on Friday to $168.50, marking a 2.5 cent loss on the week. March feeder cattle futures fell 2.5 cents Friday before settling at $223.10, marking a $1.30 loss on the week. Live cattle futures gained 7% on the year while feeders gained 21%.
