Fed Cattle Recap

Fed Cattle Recap | Cash trade perks up on smaller volume

The feedyard cattle trade was a little higher with smaller cash volume again.

The feedyard cattle trade perked up a little for the week ending Feb. 10, but the volume of cattle sold on the cash market once again took a back seat to the formulas. But then again, formula volume was off slightly as well.

The Five Area formula sales volume totaled 198,675 head, compared with about 202,412 the previous week. The Five Area region includes the major feeding areas from Texas up through Nebraska, along with Colorado and Iowa. The Five Area total cash steer and heifer volume was 66,379 head, compared with about 77,217 head the previous week. 

The estimated weekly total federally inspected cattle harvest was 591,000 head, compared with 579,000 head the same week last year. The current year-to-date total harvest is about 87,000 head higher than last year.

Nationally reported forward contract cattle harvest was about 44,000 head, compared with about 39,000 head the previous week. The packers have about 194,000 head of forward contracts available for February and 181,000 head in March.

Now looking at the prices, the weekly weighted average cash steer price for the Five Area region was $126.15 per cwt, compared with $125.91 the previous week, $0.24 higher. The Five Area weighted average cash dressed steer price was $200.30, compared with $199.90 the previous week, $0.40 higher.

The Five Area average formula price was $201.22, compared with $198.22 the previous week, making it $3 higher.

Average fed steer carcass weight for week ending Jan. 27 was 889 pounds, 2 pounds lower than the week prior but higher than the 884 pounds the same week last year.

The Choice-Select spread was $3.78 on Friday, compared with $5.65 the previous week and a $1.98 spread last year. 

 

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