Cash Cattle Steady to $1 Higher
Cash cattle traded in light to moderate volumes last week, with the strongest prices in the North, mostly $123 to $124 live, with a few up to $126. Dressed cattle sold at $196. Prices were steady to $1 higher.
Cattle trade in the South was mostly $120 to $121, steady with the previous week. The price in the South was hampered by a Kansas packing plant that was idle half the week for maintenance.
Wholesale beef prices continued marching higher. Choice boxed beef closed Friday at $276.62 per cwt., up $6.12 for the week. Select boxed beef closed at $268.43 per cwt., up $4.60 for the week.
Auction prices for steers and heifers were $1 to $3 lower last week, according to the Agricultural Marketing Service. An exception was noted as steers and heifers in the Southeast sold steady to $2 higher.
“Cattle producers are being inventive in ways to cut cost of gain as they see current ration costs just skyrocket compared to what they were a year ago,” AMS reporters said. “Corn prices in major producing areas are near double from a year ago with distillers prices about the same. Last summer distillers prices traded significantly lower than the yearly high realized in April.”
Auction receipts totaled 217,500 last week compared to 228,200 the week prior. Last year's auction receipts totaled 98,800 head.
Live cattle futures finished Friday 47 1/2 to 87 1/2 cents lower through the December contract. Feeder cattle ended 30 cents to $1.05 lower through the November contract. April live cattle futures finished near their weekly lows at $120.85, down $2.575 for the week. May feeder cattle dropped $5.90 for the week to $143.725, also finishing near the weekly low.
