The tremendous rally in fed cattle prices the past several weeks hit a plateau for the week ending Nov. 11, with prices generally steady with last week. However, it’s likely that just holding the gains made over the past several weeks is counted as a win by cattle feeders.
The Five Area formula sales volume totaled 165,929 head, compared with about 182,149 the previous week. The Five Area total cash steer and heifer volume was 94,559 head, compared with about 117,538 head the previous week.
The estimated weekly total federally inspected cattle harvest was 623,000 head, compared with 615,000 the same week last year, 8,000 head over last year. Year-to-date total is now 1.4 million head higher than last year.
Nationally reported forward contract cattle harvest was about 60,000 head, compared with about 48,000 head the previous week. The packers have about 246,000 head of forward contracts available for November.
The weekly weighted average cash steer price for the Five Area region was $122.71, compared with $123.53 the previous week, down slightly at 82 cents lower. The weighted average cash dressed steer price for the Five Area region was $191.62, compared with $191.99 the previous week, down 37 cents.
The Five Area average formula price was $190.91, compared with $181.36 the previous week, making it $9.55 higher. This is typical as formula prices lag cash prices by a week.
The latest average national steer carcass weight for week ending Oct 28 was 901 pounds, 2 pounds higher than last week but quite a bit less than 917 pounds the same week last year, a weightthat held steady for quite some time.
The Choice-Select spread was $19.34 on Friday, compared with $15.66 the previous week and $16.91 spread last year.