Limited availability of market-ready cattle and solid gains in the futures markets provided the leverage cattle feeders needed to push for higher prices this week. Packers actively sought cattle and upped bids to secure ownership.
Active trade in the North occurred at $197 to $198 per cwt. live and $312 per cwt. dressed, which is $1 to $2 higher live and $2 higher dressed compared with the previous week. Trade in the South was called moderate at $188 to $190 per cwt., $2 higher.
Feeder cattle sold mixed from $3 lower to $4 higher, with calves mixed from $4 lower to $2 higher. Market cows sold mostly $5 lower.
Wholesale beef prices closed higher Friday but finished the week slightly lower. Choice boxed beef closed Friday at $313.77 per cwt., down 6 cents on the week. Select boxed beef closed Friday at $297.46 per cwt., down $1.44 for the week.
At the CME, August live cattle fell 32 1/2 cents Friday to $188.575, nearer the session low after hitting a nine-month high early on. For the week August live cattle rose a solid $5.475. August feeder cattle futures rose $1.075 to $259.70, near mid-range and hit a three-week high. For the week, August feeders gained $4.10.
World Weather Inc. said on Friday that heat in the western and northern Plains “will become extreme next week, which will notably raise livestock stress.”
