Cash Fed Cattle 5 Weeks Steady

.
.
(UNL)

The first week of March brought more of the same to cattle markets. Cash fed cattle prices remained frozen at $114 for the fifth consecutive week. Trade in the South was called light to moderate at $114. Trade in the North was $113 to $114 and $180 dressed, steady to $2 lower than the previous week.

Boxed beef values are correcting lower, down nearly $10 from the recent top. Choice boxed beef closed Friday at $233.13 per cwt., down $8.11 from last Friday. Select boxed beef closed at $220.73 per cwt., down $9.05 from the previous week.

April live cattle rose 47.5 cents to $119.025, paring its weekly decline to 97.5 cents. June cattle formed a daily reversal higher on Friday, ending up $1.025 at $118.00, but still down 42.5 cents this week. May feeders jumped $2.50 to $145.15 and ended the week 7.5 cents higher. Light feedlot placements last fall are likely to provide support moving forward. But for now, futures remain at a premium to cash bids and will limit rallies. Steer carcass weights have been record-heavy all year. However, the late-February bitter cold and a light weekly kill pulled steer and heifer weights down 10 lbs. in the week ended Feb. 20. That trend will likely continue, providing cash market support amid improving demand.

Estimated weekly cattle slaughter was 665,000 head compared to 649,487 head last year. The total year to date was 5.829 million head, down 3.5%.

Feeder cattle sold steady to $4 lower.

 

Latest News

AFIA Objects to EPA’s Draft Risk Evaluation of Formaldehyde
AFIA Objects to EPA’s Draft Risk Evaluation of Formaldehyde

The American Feed Industry Association says formaldehyde has been "safely used in the U.S. animal food industry for over 40 years via accurate automated equipment."

Power of Meat Reports Strong Meat Consumption, Evolving Consumer Trends
Power of Meat Reports Strong Meat Consumption, Evolving Consumer Trends

The Meat Institute and FMI-The Food Industry Association released the 19th annual Power of Meat report.

Cattle Imports from Mexico
Cattle Imports from Mexico

Mexico has become one of the major beef import sources for the U.S. as beef trade evolved from simply supplementing deficit beef production in Mexico to bilateral, product specific trade between the two countries.

Markets: Cash Cattle Markets Nearing Historic Highs
Markets: Cash Cattle Markets Nearing Historic Highs

All classes of cattle sold at higher prices for the week and most are at or near record highs. Supplies of all classes remain extremely tight.

International Genetic Solutions Debuts New Informational Resource
International Genetic Solutions Debuts New Informational Resource

International Genetic Solutions (IGS) recently unveiled a new information resource and video platform for important beef industry topics pertinent to producers’ bottom lines.

Sage_Grouse_Booming
Ranchers Urge BLM to Incorporate Latest Science in New Sage Grouse Plans

NCBA and PLC are requesting that BLM significantly extend the comment period deadlines while ranchers and other local stakeholders evaluate these lengthy proposals.