Cash fed cattle prices traded at higher prices the first week of the New Year despite a significant decline for wholesale beef prices.
Cattle in the North found an active trade at $173 to $175 per cwt. live, $1 per cwt. higher, and $273 to $275 per cwt. dressed, $2 higher than the previous week. Feedyards in the South were in full standoff with packers late Friday with no cattle sales reported.
Feeder cattle traded mostly $2 to $6 higher while calves sold $2 to $8 higher.
Wholesale beef prices sold lower with Choice significantly lower. Choice boxed beef closed Friday at $277.16 per cwt., $14.12 lower than the previous week. Select boxed beef closed Friday at $259.53 per cwt., down $0.29 from the previous week.
February live cattle futures fell 55 cents Friday to $170.575 and nearer the session low. On the week, prices rose $2.075. March feeder cattle futures on Friday dropped $1.50 at $224.15, nearer the session low and for the week up $1.05.
