COF Up 5%, Cash Cattle Steady to Higher
Cash fed cattle traded steady to higher in light to moderate volumes this week. Cattle in the South sold from $119 to $120 per cwt., steady to $1 higher. Cattle in the North traded mostly $120 to $121 live and $191 dressed, $2 to $3 higher. Feeder cattle prices were $1 to $4 higher.
USDA released its May Cattle on Feed report Friday with a total of 11.7 million head on feed, 5% higher than a year ago. The total was the second highest for a May 1 inventory since the series began I 1996.
April placements totaled 1.82 million head, 27% higher than April 2020.
Net placements were 1.77 million head. During April, placements of cattle and calves weighing less than 600 pounds were 380,000 head, 600-699 pounds were 250,000 head, 700-799 pounds were 420,000 head, 800-899 pounds were 481,000 head, 900-999 pounds were 220,000 head, and 1,000 pounds and greater were 70,000 head.
Marketings of fed cattle during April totaled 1.94 million head, 33 percent above 2020. Other disappearance totaled 55,000 head during April, 21 percent below 2020.
Boxed beef cutout values continued marching higher this week. Friday’s Choice boxed beef was $325.92 per cwt., advancing $10.41 for the week. Select boxed beef traded at $303.16, an increase of $6.55 per cwt.
