Cash Fed Cattle $1 Lower, Feeder Cattle Weak
Cattle feeders in the south traded cash cattle at $99, with northern cattle at $100 per cwt., $1 lower than last week, and dressed sales at $159 to $160 per cwt., $5 lower.
Steers and heifers sold at auction mostly $2 to $6 lower, with calves as much as $10 lower. Agriculturaal Marketing Service reporters said demand remained good but noted larger runs of calves are beginning at auctions .
Thursday’s USDA crop report was put corn production at 13.8 billion bushels, down 1% from August and down 4% from last year. Corn acres for harvest are forecast at 82.0 million acres, up less than 1% from last year. Corn yields are expected to average 168.2 bushels per acre, down 1.3 bushels from August forecast and down 8.2 bushels from 2018.
Cattle slaughter was estimated at 629,000 head for the week, 27,000 head fewer than the same week a year ago.
Choice boxed beef closed the week at $220.88 per cwt., with Select at $198.60.
