Fed Cattle Steady, Feeders Steady To $3 Lower
Cash fed cattle prices were reported at mostly $111, which is steady with last week. Dressed prices were at $173 to $174. An increase in dressed sales was reported in the south at $178.50, which is $4.50 higher than last week.
Steer and heifer calves sold at auction steady to $5 per cwt. lower, reports the Agricultural Marketing Service. Yearling steers and heifers were called steady to $3 lower.
“Receipts were much larger than last week as road conditions improved dramatically in certain areas as dryer and warmer weather permeated across the Plains,” AMS reported. “In the Northern Plains, calf runs are just getting started and high quality weaned calves are in demand. The demand for unweaned calves this week was moderate while demand for preconditioned and weaned calves was moderate to good.”
Friday’s cattle on feed report revealed another record inventory with 11.4 million head, the highest October inventory since the data series began in 1996. The total was 5.2% higher than last year. Placements in September were down 99,000 head, or 4.6% from last year. Marketings were pegged at 1.72 million head, down 3.72% from last year.
Boxed beef cutout values were significantly higher on good demand. The Choice cutout closed Friday at $207.93, up $5.22 per cwt. for the week. Select closed at $194.22, up $1.94 from the previous Friday. The Choice/Select spread was $13.69.
