The fed cattle market continued on the same track last week remaining at $124/cwt. Fed cattle prices have now increased for 18 straight weeks basis the USDA 5-area Weighted Average Direct Slaughter Cattle report.
The Prime grade accounted for 5.6% of fed beef in 2016— impressive to industry historians, but not likely to keep most beef producers checking the Prime price point for hanging carcasses or boxed beef.
Without question fed cattle and beef sales are currently hinged entirely on the packing sector’s ability to process cattle. Throughput has not been good with last week’s federally inspected head count at 502K head.