Fall Rally Continues For Fed Cattle
Greg Henderson, Drovers
October 9, 2020
Cash fed cattle traded in the South at $108 to $109 per cwt. Friday, $1 to $2 higher. Trade in the North was at $108 to $109 live, and $170 dressed, also $1 to $2 higher. Fed cattle have advanced $5 to $6 per cwt. over the past three weeks.
Estimated weekly cattle slaughter was 637,000 head, compared to 648,278 last year. The total year-to-date was 24.814 million head, 4.1% below last year.
December live cattle futures were down 2.5 cents to $112.60 and February fell 70 cents to $114.30. December live cattle rose $1.50 this week but February was down 42.5 cents. November feeders fell $3.325 this week to close at $135.525.
Choice beef cutout values closed Friday at $214.06 per cwt., $4.84 per cwt. lower than last Friday. Select closed Friday at $199.82 per cwt., down $6.79 per cwt. The Choice-Select spread was $14.24 per cwt.
Steer and heifer calves sold $1 to $3 lower at auctions this week, while yearling steers and heifers sold steady to $1 lower. AMS reporters said the fall calf runs are underway, with the supply of feeders “moderate and demand was moderate to good.” They noted the best demand was found on “yearlings that are able to fit the April CME contract.”
Weather continues to be a factor on cattle markets...