Fed Cattle Weaker, Feeder Cattle and Calves Stronger
Cash fed cattle prices finished the holiday-shortened week with prices steady to softer compared to the previous week. Northern cattle continued to trade at a significant premium to southern cattle as Corn Belt and northern feedyards are extremely current.
Trade in the North was mainly at $144 to $149 per cwt. live, and $232 per cwt. dressed - $1 to $2 lower. Trade in the South was reported at mostly $137 per cwt. with a few up to $140 – mainly $1 lower. USDA's 5-area average price for the week was $144.37 compared to $146.16 the previous week. That average price was nearly $22 per cwt. higher than last year's $122.16 per cwt.
Feeder cattle traded steady to $3 per cwt. higher and calves sold steady to $2 per cwt. higher.
Wholesale beef prices saw gains for the week. The Choice boxed beef cutout closed Friday at $267.89 per cwt., $4.07 higher than the previous Friday. Select boxed beef closed at $241.85 per cwt., up $1.38 for the week.
USDA’s weekly cattle slaughter was estimated at 593,000 head, compared to 580,744 head the same week last year. The year-to-date total was 17.470 million head, up 1% over last year.
CME August live cattle fell 60 cents to $133.95, down 65 cents for the week. August feeder futures slid 75 cents to $171.725, down $1.875 for the week.
