First Week of May Sees Higher Cash Cattle Prices- Ed Czerwein Recaps Finished Trade in Major Feedlot AreasWed, 11 May 2016 05:04:33 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 on the finished cattle trade for the week ending May seventh:
The finished cattle trade live prices were $2-$5 higher and dressed prices steady to $4 higher.
The weekly weighted average cash steer price for the five area which includes TX, NE, CO, KS and IA feeding areas was $2.80 hgr at $126.50 and compared to $123.79 the previous week. The cash dressed steer price was $198.66 compared to $194.16 the previous week.
The five area total cash steer and heifer volume was 100,000 head compared to 92,000 the previous week.
Five area formula sales totaled 162,000 head compared to 159,000 the previous week.
The five area average formula price was $200.57 compared to $209.11 the prev week many formula prices are based off of the previous cash prices so they lag behind just a little.
Nationally reported forward contracted cattle harvested was only 37,900 head compared to 118,000 head the previous week and 91,000 the week before that. Packers have 178,000 head of Forward contracts available for May and 283,000 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 30 was 1 pound higher at 1310 pounds and that was 1276 pounds last year, but there were fewer heifers and more steers which always pushes the weights just a little higher.
The latest avg National steer carcass weight for week ending Apr 23 was 8 pounds lower at 870 pounds compared to 866 pounds last year.
The Choice-Select spread was $9.42 on Friday compared to $9.18 previous week and $11.29 last year. The choice-select spread was bigger last year when prices for Choice ribs and loins were higher.
The weekly steer and heifer grading for the week of April 30th was 73.19 percent Prime and Choice which was down just a little from the previous week but very close to last year which was 73.25 percent.
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