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Boxed Beef Report: Beef prices drop

Choice boxed beef prices dropped over the weekend from $243.63 on Friday to $242.42 on Monday. The $1.21 fall brought the 27-day average price to $239.78. Select boxed beef also saw a 28-cent drop to hit $232.55, bringing the 27-day average price to $232.28.

Choice primal rib fell the most over the weekend from $350.76 to $346.74, a $4.03 fall that brought the 27-day average price to $336,23. Choice primal loin also fell $2.80. Chioce primal chuck and choice primal brisket were the only two cuts to not fall, jumping $1.67 and 56 cents, respectively.

Markets

Where are gasoline prices headed?

Crude oil prices have once again been making headlines, dipping into the upper $30s and lower $40s per barrel. In an article last week (farmdoc daily, August 19, 2015), it was shown that real (inflation-adjusted) prices of crude of oil and gasoline have fallen back to levels prevailing more than a decade ago.

Markets

Morning Farm Report: Cattle prices moving up

Live cattle prices increased from $144.65 on Thursday to $146.53 on Friday. The $1.88 jump brought the 27-day average price to $146.46. Feeder cattle prices also saw an increase of $2.05 to hit $202.40 on Friday, bringing the 27-day average price to $211.73.

Lean hogs did not fare quite as well, dropping 62 cents to hit $66.43. The 27-day average price now rests at $73.40.

Wheat prices faltered Friday, dropping seven cents to $4.77, while corn saw a one-cent drop to $4.77.

Markets

Cattle Outlook: Fed cattle prices lower this week

The stock market has had a wild couple of weeks. In the six days ending on Tuesday August 25, the Dow Jones Industrial Average declined by 1,878 points (10.7%). On Wednesday and Thursday it gained back 988 points (6.3%). The turmoil is mostly related to concerns about the Chinese economy.

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Feeder Cattle Review: Fed cattle prices declining

Compared to last week, yearlings traded 5.00-10.00 lower with calves selling 10.00-20.00 lower, with instances 25.00-30.00 lower. Order buyers this week were extremely cautious after aggressive pressure from the Stock Market tumble and with very bearish outside markets keeping a strain on all commodity markets. This had order buyers wanting and needing to buy feeders cheaper this week.

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