Wholesale beef prices and fed-cattle prices have shown some strength over the past two weeks, with USDA reporting the Choice cutout moving above $250 per hundredweight and fed-steer values averaging near $170 per hundredweight.
The Choice cutout on Wednesday gained $2.42 per hundredweight to average $252.75, after a $0.97 gain on Tuesday moved the average above $250. The Select cutout on Wednesday averaged $242.12 per hundredweight, leaving a Choice-Select spread of $10.63, according to the USDA’s daily National Cattle and Beef Summary.
USDA’s Five Area Weekly Accumulated Weighted Average Cattle Price report on Wednesday showed an average live-steer price of $169.46 per hundredweight, with heifers averaging $169.74. Last week, live steers averaged $166.11 per hundredweight, up $4.06 from the previous week.