Cash Cattle Finally Break Higher
Cash fed cattle prices finally broke out of a weeks-long rut, trading $2 to $3 higher this week in all regions. This week saw the highest prices of the year and the highest average since 2019.
Trade in the North was called active from $126 to mostly $127 live, and $200 dressed; $2 to $3 higher than the previous week. Cattle in the South traded at mostly $126, or $2 higher than last week.
December live cattle futures fell $1.05 to $129.275, down 95 cents from last Friday’s close. November feeder futures dropped $1.075 to $156.575, down 42.5 cents for the week.
Another trend-breaker was found in the wholesale beef market, as prices moved higher at the same time live prices advanced. Choice boxed beef closed Friday at $285.72 per cwt., $3.90 higher for the week. Select closed at $263.37 per cwt.
Feeder cattle were called steady to $3 higher, while calves were reported as mixed at $2 lower to $3 higher.
Estimated cattle slaughter was 668,000 head compared to 639,523 last year. Total slaughter year to date was 27.603 million head, 3.2% higher than last year.
