Feeder steers and heifers early in the week traded steady to $5 lower, but rebounded to trade $2 to $4 higher, compared to the previous week. Agricultural Marketing Service (AMR) reporters called the trade active on moderate to good demand. Steer and heifer calves traded unevenly from mostly $5 lower to $6 higher.
“Early week auctions saw declines as the markets were trying to catch up with losses from the CME late last week,” AMS reporters said. “The cattle futures were down sharply on Monday lending no support to the market. All confidence was lost forcing buyers to purchase feeders at lower prices with calves taking the hardest hit. However, the futures saw a comeback on Thursday and Friday triggering major gains on the board.”
Cash fed cattle traded $3 to $5 lower on the week, with the bulk of cattle in southern feedyards selling at $134 per cwt. Cattle from northern feedyards sold at $134 to $136, with dressed trade at $212 to $215.
Feedyards remain very current, and a 10-pound drop in average carcass weight underscores that fact. Steer carcass weights averaged 832 lbs., about 30 lbs. below last year.
The Choice cutout value on Friday was $247.14 with Select at $221.42. The Choice/Select spread was $25.72.
“Boxed-beef has a Choice and Select spread over 25.00 due to a significant amount of green cattle slaughtered,” AMS reporters said.