Fed Cattle Recap

Fed Cattle Recap | Steady as she goes

The cash market for fed cattle seems to be sailing on a steady course this spring, with no major tempests on the horizon, at least yet.

The finished cattle trade was steady to $1 per cwt higher for the week ending March 4.  

Estimated total federally inspected cattle harvest was 581,000 head, compared with 537,000 the same week last year. Year to date estimated harvest is 5,212,000 head, up 208,000 head over last year.

The weekly weighted average cash steer price for the Five Area region, which includes the major feeding areas of Texas, Nebraska, Kansas, Colorado and Iowa, was $124.76, compared with $124.40 the previous week, about 36 cents higher.  

The cash dressed steer price was $199.98, compared with $195.90 the previous week, about $4.08 higher.

The Five Area total cash steer and heifer volume was 140,548 head, compared with about 125,368 the previous week.

The five Area average formula price was $193.31. That compares with $190.97 the previous week and is about $2.34 higher. Five Area formula sales totaled 162,066 head, compared with about 142,022 the previous week.  

Nationally reported forward contracted cattle harvest was about 44,000 head, compared with 68,000 head the previous week. Packers have over 210,000 head of forward contracts available for March along with over 315,000 head for April.

The latest average national steer carcass weight for week ending Feb. 18 was 2 pounds higher at 881 pounds, compared with 886 pounds last year. 

The Choice-Select spread was $4.02 on Friday, which was about 50 cents higher compared with the previous week. That compares with an $8.98 spread last year. 

 

TAGS: Feedlots
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