North Leads in Mixed Cash Cattle Trade
Cash cattle prices traded mixed on moderate to active volumes. Cattle in the North traded at $164 to $166 per cwt. live and $264 to $266 dressed, both steady to $1 higher than last week. Cattle in the South traded at $163 per cwt. live, $1 lower compared to last week.
Northern feeders have experienced considerably more adverse weather and muddy pen conditions than southern yards. The supply of well-finished cattle remains extremely tight and will remain so over the next month. Steer weights are now 14 pounds below year ago.
Feeder cattle sold from $4 lower to $1 higher, with calves selling mostly $4 higher.
April live cattle futures surged 85 cents on Friday to $163.00 at the close, thereby marking a weekly advance of 67.5 cents. Meanwhile, April feeder futures slid 20 cents to $194.80 at Friday’s settlement; that represented a 15-cent weekly rise.
Weekly estimated cattle slaughter was 626,000 head, down 31,000 head from the same week a year ago. The year-to-date total is down 2.6%.
Wholesale beef prices declined for the week. The Choice boxed beef fell $3.47 per cwt. to $279.88. Select boxed beef declined $3.65 per cwt. to $268.75.
