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.
By Ron Plain and Scott Brown, University of Missouri
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.
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.
Choice boxed beef fell $1.19 to hit $243.63 on Friday, bringing the 27-day average price to $239.45. Select boxed beef also saw a slight decline from $233.53 on Thursday to $232.83 on Friday. The 70-cent fall brought the 27-day average price to $232.13.
Choice primal chuck saw the largest fall of $3.09 on Friday to hit $199.03, while choice primal rib fell $2.50. Choice primal loin on the other hand saw an increase of $1.03 to hit $339.33.