Cash fed cattle continued a downward spiral driven by losses in CME Live cattle futures. Tyson announced its Kansas beef plant won't be fully operational until January.
Stocker and feeder cattle sold $2 to $6 per cwt. lower at auction this week as buyers continue to demand preconditioned calves.
Negotiated cash fed cattle drifted lower throughout the week with a range reported at $3 to $10 lower. Feeder cattle sold uneven though demand remains moderate to good.
Cattle markets came under pressure and beef cutout prices trended lower for the week.
Steers and heifers sold at auctions this week steady to $3 lower. AMS said with the holidays and the end of the year fast approaching, many auction markets saw heavy runs of cattle.
Both cash fed and feeder cattle markets traded lower throughout the first week of September.
Both CME cattle futures and cash prices were lower for the second consecutive week. USDA's cattle on feed report found a record October 1 inventory as September placements were called 6% higher.