For the 12th consecutive year CAB sales tonnage set another record. The company had set a goal of 1 billion pounds in annual sales by 2020, but that was reached ahead of schedule two years ago.
Last week’s fed cattle market was steady to a dollar higher, depending on the region, with the 6-state regional average up to $120/cwt. The steer/heifer harvest continues with larger head counts than a year ago.
There’s no question that carcass weights were significantly lower in January than they would have been given a more typical weather pattern for the month.
Herd rebuilding now has packer harvest capacity nearly maxed out and, with more quality cattle in the mix, we۪ve seen the largest weekly supplies of CAB carcasses on record.
Data for the final week of August is yet to be posted but it’s a formality at this juncture, given the pace of CAB-qualifying carcasses in the first 3 ½ weeks.
From a seller’s perspective, the fed-cattle trade continues to improve, with last week’s numbers making it the third straight week of higher prices since September 9th.
Led by demand, CAB sales move onward and upward, with a 10.3% increase in CAB sales tonnage in fiscal 2017
The fed cattle market average last week was steady on the week prior with a $115/cwt. average on a live basis and $181/cwt. dressed.