Feeder Cattle Mixed Last Week, Fed Cattle Steady
Last week’s fed cattle traded at mostly steady prices on moderate demand. Cattle in the North sold at mostly $120 live and $191 dressed, steady to $1 higher. Cattle in the South traded at $119 to $120, steady with the previous week.
Auction prices for feeder cattle last week were steady to $4 higher in the North and South Central regions, while auctions in the Southeast region reported prices $1 to $3 lower.
Agricultural Marketing Service reporters called demand for feeder cattle and calves “good to very good.” Many auctions in the North Plains are already on summer schedules with auctions only occurring every two weeks.
Boxed beef prices rose $5.80 per cwt. last week, closing on Friday at $330.97 per cwt. Select ended the week at $300.90 per cwt.
Cattle futures prices ended last week on a soft note amid slow cash market trading ahead of the three-day holiday weekend and small Saturday kill plans. August cattle fell 82.5 cents to $118.60 per hundredweight, down from $120.92 at the end of last week and the lowest close since May 17. August feeder cattle fell $1.50 to $151.35, down from $153.70 at the end of last week.
Tuesday’s markets were significantly lower as news of the JBS cyber attack broke before the markets opened. June live cattle closed down $2.32 at $113.55, and August closed $2 lower at $116.60. August feeders were down $2.20 to $149.15.
Tuesday marked the first trading day with new contract limits at the CME. Feeder Cattle trading limits are now $6.25 from the previous $5 daily limit. Live cattle contract limits are now $5 from the previous daily limit of $4.
Weekly Cattle Slaughter under federal inspection was estimated at 629,000 last week, 40,000 less than the same week a year ago. Auction receipts totaled 150,800 head, compared to 156,400 head the previous week and 138,200 head last year.
