Feedlot Prices Go Lower Again in the Final Week of April- Ed Czerwein Offers His Weekly AnalysisTue, 03 May 2016 11:18:40 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 30, 2016.
"The finished cattle trade live prices were $2-3 lower and dressed prices $2-4 lower.
"The weekly weighted average cash steer price for the five area which includes TX, NE, CO, KS and IA feeding areas was $2.66 lower at $123.79 and compared to $126.45 the previous week.
"The five area total cash steer and heifer volume was 92,000 head compared to 86,000 the previous week. The three biggest states for five area cash volume were NE at 48,000 head, KS at 18,000 head and IA/MN at 13,000 head.
"Five area formula sales totaled 159,000 head compared to 154,000 the previous week and TX was at 71,000 and KS at 45,000 head.
"The five area average formula price was $209.11 compared to $213.64 the previous week and the current dressed steer average price for the five areas was $194.16 this week.
"National imported slaughter cattle totaled 8200 head for the week compared to 8500 last week.
"Nationally reported contracted cattle harvested was 118,000 head compared to 91,000 head the previous week. Packers had 339,000 head of Forward contracts for April, 176,000 for May and 252,000 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 TX Panhandle which includes steers and heifers for the week of April 23rd was 4 pounds lower at 1309 pounds and that was 39 pounds higher than last year which was 1270 pounds.
"The latest average National steer carcass weight for week ending April 16 was 2 pounds lower at 878 pounds. compared to 872 pounds last year.
"The Choice-Select spread was $9.18 on Friday compared to $9.62 the previous week and $11.42 last year. The Choice-Select spread was bigger last year when prices for Choice ribs and loins were higher."
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