Fed Cattle Recap | Will a weather market please stand up?
The cash market for fed cattle was about $1 lower with slightly smaller cash sale numbers.
Ed Czerwien, BEEF Magazine
Apr 09, 2019
And the beat(ing) goes on. Another major storm is forecast to whack a wide swath of country later this week, with the Northern Plains the main target.
However, the storm will have a much wider effect, with rain, snow and colder weather forecast for the central and northern mountains and the central Plains, among other areas.
The storm will certainly affect feedyards and ranchers already weary and reeling from one of the toughest winters on record. Will it affect the market? Nobody knows, but packers have the leverage and a full weather market has yet to show itself.
Now looking at the fed cattle market for the week ending April 6, the Five Area formula sales volume totaled 231,955 head, compared with about 221,350 the previous week. The Five Area total cash steer and heifer volume was 69,406 head, compared with about 75,703 head the previous week.
Nationally reported forward contract cattle harvest was about 51,000 head for the week. Packers have 305,000 head lined up for April, which is 75,000 head higher than last year.
The National cash sales this week included 15,855 head of 15- to 30-day delivery and about 19,700 head the previous week.
Now looking at prices, the Five Area weekly weighted average cash steer price for the week ending April 6 was $125.30 per cwt, compared with $126.34 the previous week, which was $1.04 lower for the week...
more, including chart, audio [3:11 min.]