Fed Cattle Rally Reaches Fifth Week

Cash fed cattle prices increased for the fifth consecutive week.
Cash fed cattle prices increased for the fifth consecutive week.
(CAB)

Cash fed cattle traded mostly $3 higher for the week, the fifth consecutive week with higher prices. Live sales in the North were reported at $101 to $103, and cash sales in the South from $99 to $101. Dressed sales in the North were $163. Northern cattle continue to trade at a premium to those from the South.

August live cattle futures closed up $0.175 at $102.80 on Friday. October live cattle finished the day down $0.525 at $106.45, for a technically bearish weekly low close, and for the week fell $1.425. October feeder cattle futures ended Friday’s session down $0.375 at $146.40, also at a bearish weekly low close and for the week lost $0.25.

USDA estimated weekly cattle slaughter at 633,000 head, 13,703 head lower than the same week last year. The total year to date was 19.047 million head, 1.042 million head (5.2%) below last year.

Choice boxed beef closed Friday at $205.47 per cwt. $2.21 higher than the previous Friday. Select closed at $192.75 per cwt., $2.86 higher than the previous week.

Steers and heifers sold at auction steady to $3 higher, according to AMS reporters. The first full week of August saw 11% more cattle at auction markets than a year ago. Auction receipts for the week totaled 171,800 head, 35,700 more than the previous week.

 

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