November Cattle Rally Continues
Cash cattle prices traded higher
Greg Henderson, Drovers
November 13, 2020
The rally in the cattle markets continued this week with solid gains in both cash fed cattle and the boxed beef cutout.
The four major packers were all bidding at least $110, with a handful of cattle selling at $111 in Texas on Thursday. Cattle feeders held on to asking prices of $111 on Friday, but the lower trading CME futures prices forced them to accept $110. Trade was active with a few more cattle selling in the North than in the South. Price at $110 put the fed cattle market back to a level not seen since early June when prices were $112.
Dressed prices in the north were from $172 to $175, generally $4 to $7 higher.
Of critical importance to the current cattle market is the decline in carcass weights. Average carcass weights declined 10 pounds in USDA's latest report indicating that feedyards are regaining currentness after the backlog of heavy cattle the past few months.
Friday morning’s Choice boxed beef price...