Markets: Cash Cattle at Record Highs; COF Up 1%
An active cash market in all regions produced a $2 to $3 per cwt. rally this week, with prices reaching new record levels. The North led the way with sales at $190 to $191 per cwt. live and mostly $302 dressed, $3 higher live and $4 higher dressed. Active trade in the South pushed prices $1 to $2 higher at $187 to mostly $188 per cwt.
Feeder cattle traded mixed at $1 lower to $4 higher and calves sold mostly $1 to $6 higher. Market cows sold $1 to $7 higher.
Wholesale beef prices finished the week lower. Choice boxed beef closed Friday at $310.72 per cwt., $1.18 per cwt. lower for the week. Select boxed beef closed at $301.47 per cwt., down 93 cents for the week.
Cattle on Feed
USDA called the March 1 Cattle on Feed total at 11.8 million head, up 1% from the same month last year. Placements were tallied at 1.89 million head, up 10% from a year ago. Marketings during February were 1.79 million head, up 3% from 2023.
