Cash cattle prices slowly move higher as supplies of market-ready cattle have continued to tighten. Cash cattle traded in the South this week at $124 in a moderate to active trade, steady with last week’s prices. Cattle in the North sold mostly at $124 with a few up to $125, and mostly $196 dressed, steady to $2 higher.
CME December cattle futures rose 67.5 cents to $130.975 per cwt., up 0.6% on the week for the second consecutive weekly gain and the highest settlement since $132.20 on Sept. 2. November feeder cattle fell 72.5 cents to $161.425, up 0.2% on the week.
Weekly estimated cattle slaughter was 646,000 head compared to 658,614 last year. Total slaughter for the year is estimated at 26.277 head, 3.2% higher.
Wholesale beef values continued to decline during the week. Friday’s Choice beef cutout closed at $280.23 per cwt., down $3.04 from the previous Friday. Select closed at $260.62 per cwt., down $2.12 per cwt. from last Friday.
