Fed cattle prices were sharply lower this week on good volume.
Cattle and calves on feed for slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 10.8 million head on Oct. 1, 2010.
USDA made modest changes to 2017 beef projections in Friday's monthly WASDE release.
The 135 bred heifers averaged $1,787 with a top of $2,400 at the Show-Me-Select Replacement Heifer sale, Friday, May 4.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
The pain eased somewhat for cattle feeders last week, but losses remain more than $170 per head.
Only minor changes are projected by the latest WASDE report for beef production and cattle prices.
Cash market prices topped out for the year in February when the weekly 5-market average was $129.75 per cwt. (live basis) and prices eroded only to rebound slightly in May to $124.81.