Fall Rally Continues for Cash Cattle & Wholesale Beef

Rapidly rising wholesale beef prices kept packers actively looking to add inventory this week. Choice boxed beef closed Friday $16.64 per cwt. higher than two weeks ago.

Texas Feedlot PC: TCFA
Texas Feedlot PC: TCFA
(TCFA)

Rapidly rising wholesale beef prices kept packers actively looking to add inventory this week. Cattle in the North sold mostly at $151 to $153 per cwt. live and $240 dressed, $1 higher live and $4 higher on a dressed basis. Cattle in the South sold mainly at 4150 per cwt., which is $2 higher than the previous week.

Wholesale beef prices gained $10 per cwt. for the week. Choice boxed beef closed Friday at $263.26 per cwt., $9.55 per cwt. higher. Compared to two weeks ago, Choice boxed beef traded $16.64 per cwt. higher. Select boxed beef closed Friday at $234.49 per cwt., $10.23 higher. Retailers continue to anticipate a seasonal slowdown in slaughter volumes and are competing to add inventory.

Weekly slaughter was estimated at 668,000 head, even with the same week a year ago. Year-to-date slaughter was estimated at 28.039 million head, up 1.6% over last year.

Feeder cattle traded mostly steady to $4 higher while calves traded mainly $1 to $5 higher.

December live cattle futures fell 42 1/2 cents to $153.00, up 57.5 cents for the week. January feeder cattle fell 7.5 cents to $180.375. Live cattle posted a modest gain despite some corrective selling following the contract highs posted earlier this week.

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Drovers_Logo_No-Tagline (1632x461)
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