Agricultural News
Cash Cattle Prices Rising as 2010 Heads for the Finish Line
Wed, 01 Dec 2010 5:59:15 CST
The Cash Cattle Market continues its end of the year rally, with prices jumping $2 per hundredweight on Tuesday as the trading window opened for this week and saw $104 being paid for steers and heifers leaving the feedlot bound for the packer.
The Texas Cattle Feeders Association reports that over 17,000 head sold for $104- and another 1,100 head brought $103 on Tuesday in Texas, Oklahoma and New Mexico feedlots that are members. The $104 compares to $102 paid a week ago and $98.50 paid earlier in the month of November.
As the cattle market rose on Tuesday, we were talking with Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel- who feels comforable with these higher fourth quarter cattle prices. He says, given the tightness of overall cattle supplies in the US as well as the relatively high closeouts that feedlots face as we end the old year, prices need to be above a dollar per pound.
He adds on today's Beef Buzz that breakevens for feedlots as we end the year and jump into 2011 will be moving higher- and could easily be $105 to $110 in the early months of the new year. You can take a listen to today's Beef Buzz with Dr. Peel, one of the veteran cattle market watchers to be found anywhere- especially within the Land Grant System. Just click on the LISTEN BAR below.
The Beef Buzz is a regular feature heard on radio stations around the state on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the listen bar below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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