Feedlot Cattle Jump Three to Six Dollars Higher in Last Week's Trade- Ed Czerwein Offers AnalysisTue, 07 Jun 2016 11:12:15 CDT
Ed Czerwein with the USDA Market News Office in Amarillo offers a weekly review of the finished cattle market of the previous week on Tuesdays. Here is the Weekly Feedlot - finished cattle trade recap for week ending June 4th:
The finished cattle trade live prices were quoted $3-$6 higher and dressed prices $1-$9 higher.
The weekly weighted average cash steer price for the five area which includes TX, NE, CO, KS and IA feeding areas was $4.30 hgr at $129.29 and compared to $124.99 the previous week. The cash dressed steer price was $205.66 compared to $198.28 the prev week.
The five area total cash steer and heifer volume was 103,000 head compared to 77,000 the previous week.
Five area formula sales totaled 154,000 head compared to 179,000 the previous week.
The five area average formula price was $205.93 compared to $210.08 the prev week Cash went up and formulas went down because 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 41,000 head compared to 49,000 head the previous week. Packers have 287,000 head of Forward contracts available for June and 100,000 head for July.
The average live weight from the Texas Panhandle which includes steers and heifers for the week of May 28 was steady at 1305 pounds versus 1283 pounds last year.
The latest average National steer carcass weight for week ending May 21 was one pound lower at 862 pounds compared to 864 pounds last year. This latest decline makes 3 weeks in a row lower than last year
The Choice-Select spread was $24.25 on Friday compared to $20.50 prev week and the seven to ten dollar range in June last year. The big rally for the Choice rib and loin as buyers purchased steaks for grilling helps to widen the Choice- Select spread. The daily Choice rib primal jumped 53 dollars in the past month and continued to climb even when the Choice cutout slipped a little.
Click on the LISTEN BAR below to hear the commentary of Ed Czerwein on this past week's Finished Cattle trade.
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