Fed cattle prices hold steady

 

Wes Ishmael, BEEF Magazine

Mar 09, 2019

 

Negotiated cash fed cattle trade through Friday afternoon was generally steady at $128 per cwt on a live basis in the Southern Plains and Nebraska. Dressed trade was also steady at $205.

 

“The seasonal trend in the cash market would tend to say there is still upside in the finished cattle market, and there may be a few dollars left. However, the wind appears to have been taken out of the sails the past couple of weeks with cash prices failing to push closer to $130,” according to Andrew P. Griffith, agricultural economist at the University of Tennessee, in his weekly market comments.

 

Week to week on Friday, Live Cattle futures closed an average of 52 cents higher (17 cents higher in the back contract to 90 cents higher).

 

Some might consider steady cash a disappointment, given increasing wholesale beef values and the tonnage that winter weather continues to take from the market.

 

Choice wholesale beef value was $4.84 higher week to week on Friday at $226.13 per cwt. Select was $1.99 higher at $218.78.

 

As for weights and weather, for the week ending Feb. 23, the average dressed steer weight was 5 pounds less than the previous week and 9 pounds less than a year earlier at 874 pounds, according to the Actual Slaughter Under Federal Inspection report from USDA. The dressed heifer weight was 1 pound less than the previous week and 10 pounds lighter than the previous year at 818 pounds.

 

Beef production will still be higher ...

 

Feeder cattle prices firm ...

 

Fewer feedlot placements again ...

 

U.S. beef exports shatter annual record ...

 

Why trade negotiation matters ...

 

more, including links

https://www.beefmagazine.com/market-reports/feeder-cattle-prices-firm