Cash cattle trading was noticeably more active on Friday than in recent weeks and prices were higher in all regions. Cattle in the North sold at $165 live with a few up to $167. Many of the lower sales were cattle carrying mud. Dressed sales occurred at $262 to $265 per cwt., $2 to $3 higher. Trade in the south was also active at $165, also $1 higher.
Analysts see the current bull market extending into April and maybe beyond. Carcass weights are averaging below year ago levels which continues to point toward a smaller inventory of market-ready cattle. The record for cash cattle prices is around $172.00 from 2014.
Feeder cattle traded steady to $5 higher while calves sold $2 to $8 higher.
Estimated weekly cattle slaughter was 629,000 head, about 30,000 head less than the same week a year ago. The year-to-date total was 5.663 million head, down 2.6% compared to last year.
Wholesale beef prices advanced modestly for the week. Choice boxed beef closed Friday at $289.32 per cwt., up $2.04 for the week. Select boxed beef sold at $276.86 per cwt., down $0.22 per cwt. for the week.
April live cattle advanced $1.325 on Friday to end the week at $165.425; that marked a 5-cent weekly rise. Nearby March feeder futures climbed $1.425 to $190.00, while the April contract surged $2.175 to $196.025. The latter represented a weekly gain of $2.45.
