Negotiated cash fed cattle trade ranged from mostly inactive on moderate demand in the Southern Plains to limited on moderate demand in the North through Friday afternoon, according to the Agricultural Marketing Service.
For the week, however, FOB live prices were mostly $245/cwt., which was $7 higher in the Southern Plains and $10 higher in the North. Dressed delivered prices were mostly $13 higher at mainly $385.
Estimated total cattle slaughter last week of 533,000 head was 10,000 head more than the previous week but 53,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 7.1 million head was 796,000 head fewer (-10.1%) than the same period a year earlier. Estimated year-to-date production of 6.3 billion pounds was 521.4 million pounds less (-7.6%).
Higher cash fed cattle prices came in the face of sluggish wholesale beef values. Choice boxed beef cutout value was $1.80 lower Friday afternoon at $387.78/cwt. Select was $1.51 lower at $386.19. Week to week on Friday, Choice was $5.19 lower and Select was $3.68 lower.
Futures markets were closed Friday, in observance of Good Friday. For the week, though, Cattle futures were sharply higher.
Week to week on Thursday, Live Cattle futures closed an average of $7.92 higher. Feeder Cattle futures closed an average of $17.30 higher. During the same period, Corn futures closed 13’3¢ lower through the front six contracts.
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