Fed Cattle Weaker, Feeders & Calves Steady to Higher
Packers were not as aggressive this week and cash trade in both the North and South was called moderate. Prices were generally steady to lower in both regions.
The North trade occurred at $146 to $148 live and $232 to $233 dressed, steady to $2 lower. Cattle in the South traded at $141 to $142, steady with last week.
Packers next week will likely accelerate slaughter ahead of the Labor Day holiday weekend. Retailers probably won’t be buying actively next week but may step up purchases the following week. History suggests the cash market will work sideways to higher in late summer and fall.
October live cattle fell 60 cents on Friday to $143.05, down $2.20 for the week and the lowest closing price since Aug. 2. September feeder futures fell $2.05 to $182.20, down $2.55 for the week.
Estimated weekly slaughter was reported at 678,000 head, 17,000 head higher than the previous week.
Feeder cattle were called steady to $4 higher with calves $2 to $7 higher.