Choice boxed beef prices saw an increase of $1.22 cents on Wednesday to hit $205.17. The 27-day average price now rests at $214.08. Select boxed beef prices also rose slightly from $193.12 on Tuesday to $193.42 on Wednesday. The 30-cent jump brought the 27-day average price to $204.92.
Live cattle prices saw a dip of $1.93 on Tuesday, hitting $130.25. The 27-day average price now rests at $135.20. Feeder cattle prices saw a 72-cent fall to $164.68 on Tuesday, bringing the 27-day average price to $182.24.
Choice boxed beef prices increased from $203.32 on Monday to $203.95 on Tuesday. The 63-cent jump brought the 27-day average price to $214.38. Select boxed beef also saw an increase, rising $2.40 to $193.12. The 27-day average price now rests at $205.43.
Throughout the United States retail diesel prices dropped an average of four cents this week to hit $2.45. The highest drop in the country was in the Midwest region, where prices fell five cents to hit $2.44. The lowest fall was one cent in the Rocky Mountain region. The highest prices are in the West Coast region at $2.65, while the lowest are in the Midwest at $2.44.
By Kate Brooks, University of Nebraska-Lincoln Extension
USDA-NASS released the monthly Cattle on Feed report on November 20. Numbers came in very similar to the average pre-report estimates. Total cattle on feed number (U.S. feedlots over 1,000 head capacity) on November 1 was up 2.1% over 2014 at 10.8 million head. This is the largest November cattle on feed number since 2012. In 2015 cattle on feed inventories have been at or above 2014 levels for all but one month, with the last five month inventories at 2% or more above last year’s levels.
Live cattle prices increased over the weekend from $163.65 on Friday to $132.18 on Monday, bringing the 27-average price to $135.41. Feeder cattle prices also saw an increase of $1.75 to hit $165.40 on Monday. The 27-day average price is now at $183.32.
Lean hog prices saw no change and currently rests at $57.45.
Corn increased four cents, while wheat increase six cents.
Chicago wheat futures edged lower on Tuesday, giving up some of last session's gains, as a further improvement in the condition of the U.S. winter crop put attention back on ample global supply of the staple cereal.
By Dr. Kenny Burdine and Dr. Greg Halich, University of Kentucky Extension
After enjoying a phenomenal cattle market during 2014 and much of 2015, prices dropped considerably from summer to winter this year. The rapid market drop seemed to delay feedlot marketings of fed cattle, pushing weights upward. At the same time, reduced exports and growing pork and poultry supplies also pressured cattle markets.