Fed-cattle prices remained flat last week in light trading, as wholesale beef prices struggled to climb past $140 per hundredweight. Reported sales of finished cattle averaged around $81.20 per hundredweight, compared with $81.90 for the previous week and near $95 one year ago.
Steer and heifer slaughter for the week were down 1.5 percent from the prior week and down about 3.5 percent from the same week last year, according to USDA. Slaughter weights averaged 1,267 pounds, even with a week ago and a year earlier.
Live cattle futures, meanwhile, gained about a dollar on the week for each contract month as the June Cattle on Feed report showed light May placements and feedyard inventories well below those of one year ago. The futures board continues to show significant premiums during the fourth quarter of this year.