Last Week Proves Tough for Cattle Sales - Ed Czerwein ExplainsTue, 26 Apr 2016 21:40:56 CDT
Ed Czerwein of the U.S. Department of Agriculture Market News Office in Amarillo, Texas presents a weekly feedlot trade and finished cattle price recap at the beginning of each week for the previous week- here is his report for the week ending April 23, 2016.
The finished cattle trade live prices were $7 to $9 lower and the dressed prices $12 to $16 lower.
The weekly weighted average cash steer price for the five areas, which includes Texas, Nebraska, Colorado, Kansas and Iowa feeding areas, was $7.54 lower at $126.45 and that compared to $133.99 the previous week.
The five area total cash steer and heifer volume was 86,000 head compared to 87,000 head the previous week. The three biggest states in the five areas were Nebraska with 42,000 head, Iowa/Minnesota with 19,000 head and Kansas with 15,000 head.
Five area formula sales totaled 154,000 head compared to 143,000 the previous week and Texas was at 72,000 head and Kansas at 40,000 head.
The five area formula price for the week was $213.64 compared to $214.23 the previous week. Many but not all formulas are priced off of previous cash prices so they go up and down slower than the negotiated or cash prices, which is similar to the box beef trade.
National imported slaughter cattle totaled 8,500 head for the week compared to 9,800 last week.
Nationally reported forward contracted cattle harvested was 91,000 head compared to 68,000 head the previous week. Packers currently have 339,000 head of forward contracts for April, 170,000 for May and 249,000 head for June.
This is the time of the year when all weights - both live and carcass - follow their normal seasonal declines. The average live weight from the Texas Panhandle, which includes steers and heifers for the week ending April 16 was 3 lbs lower at 1,313 lbs.
The latest average national steer carcass weight for week ending April 9 was 4 lbs lower at 880 lbs but was still 9 lbs heavier than last year, which was 871.
Choice-Select spread was $9.62 on Friday compared to $9.40 the previous week and $9.37 last year. The Choice-Select spread is normally bigger when demand for Choice ribs and loins are higher like now during the grilling season.
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