Negotiated Cash Fed Cattle Trade Higher
Negotiated cash fed cattle trade was called “moderate to active” this week. Surging box beef prices coupled with improved feedyard market leverage spurred prices higher.
Cattle in the South traded $103 to $105 per cwt. Cattle in the North traded at $105 to $107, with Nebraska dressed sales at $165 to $170 per cwt., $2 to $7 higher.
CME Live Cattle closed mixed and CME feeders were slightly lower. October Live cattle rose 57.5 cents to $110.15 and December gained 27.5 cents to $112.825. September feeders fell 57.5 cents to $147.375.
Friday’s Choice Boxed Beef price was $214.04 per cwt., $8.57 higher than last week. Select boxed beef sold at $199.24 per cwt., $6.49 higher than last week. Estimated slaughter was 640,000 head, 7,000 more than the previous week.
Steers and heifers sold uneven at auction from $1 lower to $3 higher, according to Agricultural Marketing Service reporters.