Fed Cattle Shed Another $2, Futures Lower

Cash fed cattle traded $2 lower
Cash fed cattle traded $2 lower
(UNL)

Cash fed cattle traded at $113 per cwt. for the week, $2 lower. Cattle sold on a dressed basis at firm to $5 lower at $180 to $182 per cwt.

CME cattle futures faced heavy selling pressure to close the week. Live cattle ended $2.525 to $2.90 lower, while feeder cattle finished $2.925 to $3.60 lower. For the week, April live cattle dropped $1.825 and posted a new contract low. April feeder cattle fell $2.65 this week.

Steers and heifers sold uneven at auction, from $2 lower to $3 higher. Agricultural Marketing Service reporters said auctions that saw drastic swings lower last week swung sharply higher this week.

AMS noted the $18..55 loss on CME futures for April Live Cattle since January 24, calling the devaluation roughly $200 per head on a 1300-pound steer.

Cattle Slaughter under federal inspection was estimated at 647,000 for the week, 20,000 more than last week and 40,000 more than a year ago.  This week’s cattle slaughter is the largest for this week of the year since 2008, when the actual slaughter was reported at 647,060.  On the week, Choice cutout closed $2.17 higher at $207.47, while Select was $3.66 higher at $202.57. The Choice-Select spread was $4.90. 

Tags

rancher Feedyard
 

Latest News

Beef Production
Applying the Soil Health Principles to Fit Your Operation
Applying the Soil Health Principles to Fit Your Operation

What’s your context? One of the 6 soil health principles we discuss in this week’s episode is knowing your context. What’s yours? What is your goal? What’s the reason you run cattle?

Shaye Koester-Wanner
Industry
On-farm Severe Weather Safety
On-farm Severe Weather Safety

When a solid home, tornado shelter or basement may be miles away, and you’re caught in a severe storm, keep in mind these on-farm severe weather safety tips.

Aimee Robinson
Beef Production
Quantifying the Value of Good Ranch Management
Quantifying the Value of Good Ranch Management

The value of good management has never been higher. Well managed cow-calf operations can concentrate inputs into short time frames focused on critical control points of production.

Mark Z. Johnson
Education
K-State Meat Animal Evaluation Team Claims National Championship
K-State Meat Animal Evaluation Team Claims National Championship

Kansas State University dominates the national Meat Animal Evaluation contest for the fourth year in a row.

Angie Denton
Beef Production
Quantifying the Value of Good Management
Quantifying the Value of Good Management

Historically low current US cowherd inventories and limited evidence of heifer retention indicates the robust markets we currently enjoy should be sustained for at least the next couple of years.

Mark Z. Johnson
Industry
Properly Prepared Beef Remains Safe; Meat Institute Calls For Guidance to Protect Workers at Beef Facilities
Properly Prepared Beef Remains Safe; Meat Institute Calls For Guidance to Protect Workers at Beef Facilities

The Meat Institute said properly prepared beef remains safe to eat and called for USDA and the CDC to provide worker safety guidance specific to beef processors to ensure workers are protected from infection.

North American Meat Institute
View More