Cattle Markets Rebound
Cattle markets posted a solid rally for the week ended July 14, with cash fed cattle $2 to $3 per cwt. higher. Cattle from northern feedyards traded at $118 to $121, $2 to $4 higher, and the dressed trade was $188 to $191 per cwt., steady to $3 higher. Cattle traded in the southern plains at $120 per cwt. Those prices mean feedyards recorded another week solidly in the black.
Packer profits, however, likely declined as the beef cutout price was sharply lower. The choice cutout traded Friday at $209.35, down $9.49 per cwt. from last Friday. The Select price was $195.42, down $7.09 per cwt. from last Friday.
Feeder cattle traded mostly $3 to $5 higher after an early week rally in the futures markets. AMS reporters called the market “active with moderate supplies and very good to moderate demand.” Reporters also noted there’s plenty of interest in “long-time weaned calves and yearlings coming off of grass.”
