Finished Cattle Had Stronger Prices This Past WeekMon, 23 Jan 2012 18:59:48 CST
Higher cash cattle trade for animals ready for the processing plants came this past week, even as we saw weaker wholesale boxed beef trade in both the spot market, as well as in the formula sales- that the word from Ed Czerwin of the USDA Market News Office in Amarillo, Texas. Czerwin has his weekly summary of the cattle and beef markets for this past week done- and you can hear it by clicking on the LISTEN BAR below.
The formula beef trade saw the bigger losses this past week- off as much as five dollars per hundredweight.
Finished cattle headed north- with prices reported in the Texas, Oklahoma and New Mexico feedlots were three dollars better than the week before- ranging from $126 to $127.25. Kansas feedlots were also up by three bucks- hitting $126 for their finished cattle. However, Nebraska feedlots were only up $1 to $2 at mostly $125 in the latest weekly count. With the choice select spread collapsing down to six dollars this past week(back at the start of December, it was $18 choice premium over select), northern plains fat cattle have lost much of their premium over the southern plains market ready cattle.
Czerwin tells us that this past week, average live weights dropped a bunch compared to a week earlier, dropping from 1255 pounds two weeks ago versus 1231 pounds this past week. A year ago, the average live weight was even higher- 1265 pounds. Lighter weights compared to a year ago suggests feedlots are running current right now when it comes to market ready cattle to sell.
Feeder cattle prices in the southern plains were higher again this past week, with five to six hundred pound calves were priced from $163 to $184 on average around the southern plains region. Seven to eight hundred pounders priced in from $145 to $153, and 800 to 850 pounders were priced from $140 to $148.
You can hear all of Ed's excellent commentary by clicking on Listen Bar below.
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