Boxed beef hits record highs, cattle weak to lower

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Pre-holiday demand drives Choice boxed beef prices to record highs last week, yet cattle prices were steady to weaker. 

Yearling feeder cattle were called mostly steady, while steer and heifer calves traded steady to $3 per hundredweight lower. Calf demand was limited as many producers were busy in the fields with hay and row-crop farming.

“Despite the continued lack of support from the CME Feeder Cattle contracts, cash yearling feeder prices showed some support late in the week as order buyers were still filling orders in late- week auctions as receipts are expected to turn sharply lighter,” says USDA Market News Reporter Corbitt Wall.

Last week’s auction receipts totaled 207,700, compared to 177,100 the previous week and 164,700 last year. Direct trade totaled 48,500 with video/Internet at 2,300, for a total of 258,500, compared to 213,900 last year.

The fed cattle market traded $1 lower at $125 in Texas and $125 to $125.50 in Kansas. Nebraska and Colorado prices were $126 to $126. Dressed sales occurred at $198 to $202 per hundredweight.

Friday’s cattle-on-feed report found 10.7 million cattle in the nation’s feedlots, down 3 percent from last year. Placements were pegged at 1.75 million during April, a 15 percent increase, and marketings were tallied at 1.86 million, a 2 percent increase. The report was called neutral to slightly bearish for the trade.

Boxed beef prices traded higher last week, with Choice boxed beef up $4.53 for the week to close Friday at $209.51. Select boxed beef was up $1.11 for the week to close at $192.31. The Choice-Select spread was $17.19.

Slaughter cows sold steady to $2 higher. Slaughter bulls sold mostly steady. USDA’s cutter cow carcass cut-out value Friday was $160.37, up $0.17 from last Friday.

Pre-holiday demand drives Choice boxed beef prices to record highs last week, yet cattle prices were steady to weaker. 

Yearling feeder cattle were called mostly steady, while steer and heifer calves traded steady to $3 per hundredweight lower. Calf demand was limited as many producers were busy in the fields with hay and row-crop farming.

“Despite the continued lack of support from the CME Feeder Cattle contracts, cash yearling feeder prices showed some support late in the week as order buyers were still filling orders in late- week auctions as receipts are expected to turn sharply lighter,” says USDA Market News Reporter Corbitt Wall.

Last week’s auction receipts totaled 207,700, compared to 177,100 the previous week and 164,700 last year. Direct trade totaled 48,500 with video/Internet at 2,300, for a total of 258,500, compared to 213,900 last year.

The fed cattle market traded $1 lower at $125 in Texas and $125 to $125.50 in Kansas. Nebraska and Colorado prices were $126 to $126. Dressed sales occurred at $198 to $202 per hundredweight.

Friday’s cattle-on-feed report found 10.7 million cattle in the nation’s feedlots, down 3 percent from last year. Placements were pegged at 1.75 million during April, a 15 percent increase, and marketings were tallied at 1.86 million, a 2 percent increase. The report was called neutral to slightly bearish for the trade.

Boxed beef prices traded higher last week, with Choice boxed beef up $4.53 for the week to close Friday at $209.51. Select boxed beef was up $1.11 for the week to close at $192.31. The Choice-Select spread was $17.19.

Slaughter cows sold steady to $2 higher. Slaughter bulls sold mostly steady. USDA’s cutter cow carcass cut-out value Friday was $160.37, up $0.17 from last Friday.

Pre-holiday demand drives Choice boxed beef prices to record highs last week, yet cattle prices were steady to weaker. 

Yearling feeder cattle were called mostly steady, while steer and heifer calves traded steady to $3 per hundredweight lower. Calf demand was limited as many producers were busy in the fields with hay and row-crop farming.

“Despite the continued lack of support from the CME Feeder Cattle contracts, cash yearling feeder prices showed some support late in the week as order buyers were still filling orders in late- week auctions as receipts are expected to turn sharply lighter,” says USDA Market News Reporter Corbitt Wall.

Last week’s auction receipts totaled 207,700, compared to 177,100 the previous week and 164,700 last year. Direct trade totaled 48,500 with video/Internet at 2,300, for a total of 258,500, compared to 213,900 last year.

The fed cattle market traded $1 lower at $125 in Texas and $125 to $125.50 in Kansas. Nebraska and Colorado prices were $126 to $126. Dressed sales occurred at $198 to $202 per hundredweight.

Friday’s cattle-on-feed report found 10.7 million cattle in the nation’s feedlots, down 3 percent from last year. Placements were pegged at 1.75 million during April, a 15 percent increase, and marketings were tallied at 1.86 million, a 2 percent increase. The report was called neutral to slightly bearish for the trade.

Boxed beef prices traded higher last week, with Choice boxed beef up $4.53 for the week to close Friday at $209.51. Select boxed beef was up $1.11 for the week to close at $192.31. The Choice-Select spread was $17.19.

Slaughter cows sold steady to $2 higher. Slaughter bulls sold mostly steady. USDA’s cutter cow carcass cut-out value Friday was $160.37, up $0.17 from last Friday.


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c andrews    
chicago-kansas  |  May, 20, 2013 at 10:34 AM

It should be noted that though the cutout hit record highs the box price did not. Based on 1250 Lb. live 62.5% cold yield leaving 488 lbs. in the box leaves the USDA choice box prices $140 under the cutout @ $2.07. In addition USDA choice versus select box prices were only $8.00 per unit apart. I have been tracking these prices since 2002 and this last weeks disparity is incredibly disturbing.


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