Wholesale beef prices have moved upward over the past week, helping support fed-cattle prices.
On Wednesday, September 10, USDA reported an average Choice cutout price of $251.46 per hundredweight. That is up $3.88 per hundredweight from a week ago.
The Select cutout on Wednesday averaged $238.18 per hundredweight, up $4.24 from a week ago. The Choice-Select spread on Wednesday stood at $13.28
Cutout prices had been declining since reaching peak levels above $260 per hundredweight in late July and early August. It was just over a year ago that the Choice cutout first broke the $200 barrier, and this summer it topped $250 per hundredweight for the first time.
Strengthening beef prices have helped support the fed-cattle market. Last week, the USDA’s 5-Area Weekly Accumulated Weighted Average Cattle Price jumped to $161.32, up from $154.58 the previous week.