Cash Cattle Markets Finally Move Higher
The last seven weeks of winter produced a sideways trend in the cash cattle market with little aggressive action from packers. The first week of spring saw changing attitudes and packers willing to take on more volume with prices from $1 to $3 higher.
Trade in the South was called moderate to active at $115 to $116. Trade in the North occurred at mostly $116 with a few at $117, and $184 to $185 dressed, $1 to $3 higher.
A noted change was found with packers willing to bid earlier in the week and take on more volume.
April live cattle futures closed up $0.55 on Friday at $120.10 and June cattle gained $0.70 to close at $121.775. For the week June live cattle rose $3.10. May feeder cattle futures on Friday rose $0.75 at $149.875 and on the week rose $5.20.
Boxed beef prices rose throughout the week. Choice boxed beef closed Friday at $238.40 per cwt., $8.31 higher than the previous Friday. Select boxed beef closed at $229.09 per cwt., $8.98 higher.
Estimated cattle slaughter was 646,000 head, compared with 684,835 head last year. Total year to date was 7.75 million head, down 3.5% compared with last year.
Stocker and feeder cattle prices traded steady to $4 higher.
