Stocker- and feeder-calf prices fell throughout the month alongside the fed-cattle market, as many would expect, and it seemed the faltering stock markets fueled the fire.
Futures markets ended the month with wild swings as it appeared traders were trying to find the right price amid the mixed signals and the generally negative economic news.
The lightest steers in the reports, 300-400 pounds, seemed to finish the month in the range from $233 to $255 per hundredweight. The heaviest class of steers, at 700-800 pounds, finished September in the range from $170 to $195.
Drovers CattleNetwork statistician Carolyn Dvorak noted, “Regionally, most of the auctions that don’t sell during the summer months are reporting again, resulting in some heavier weight cattle coming to market during this period.”