Calf Markets Begin October In Mixed Trade
Last week’s auction markets saw calves trading mixed, at $2 higher to $5 lower.
USDA’s Agricultural Marketing Service noted that October is the month that produces the most market pressure from spring-born calves, and Southeastern markets traded mostly $2 to $5 lower. The best demand was found on calves in the Northern Plains while Southern Plains and parts of the Midwest saw lighter demand.
“True yearlings over 800 pounds,” AMS said, “continue to sell with good demand and in most instances sold steady to $3 higher as yearlings are getting harder to find each week. Lot of calves moving this week. Overall, the feeder cattle market keeps moving along at a brisk pace as we start October and in many areas order buyers continue to flex their muscle in pursing all classes of feeder cattle.”
Auction market receipts totaled 195,800 head last week compared to 186,600 the previous week and 207,200 last year.
Boxed beef prices continued to decline last week with Choice closing Friday at $292.36 per cwt., $2.62 lower. Select closed at $274.53 per cwt.
Livestock slaughter was estimated at 637,000 head last week compared with 664,000 a year ago.
On Monday December CME live cattle rose $2.85 to $128.05 per hundredweight and nearer the session high. November feeder cattle rose $2.125 to $155.025, boosted by short covering after hitting a three-month low last week.
