Fed-cattle averaged around $82 per hundredweight last week, down about $2 from the prior week and about $12 lower than one year ago when live steers were bringing $94 per hundredweight.
Wholesale beef prices lost ground through the week, finishing at $138.65 per hundredweight for the Choice cutout after starting the week at $143.20. The Choice-Select spread remains at around $5, with the Select cutout averaging 133.59 per hundredweight at the end of last week.
Byproduct values improved somewhat, with hide and offal averaging $7.39 per hundredweight last week, compared with $6.79 the previous week, according to the Texas Cattle Feeders Association. One year ago, the average value was $10.90 per hundredweight.
Cattle slaughter numbers for the week, totaling 637,000, were up from 519,000 the previous week and 629,000 during the same week last year.
Compared to last week, feeder cattle and calves sold 2.00-5.00 lower with pressure from sharply lower CME Feeder Cattle futures as August contracts lost over 5.00 for the week.
See USDA’s National Daily Cattle and Beef Summary for more information.