Cattle Market Wrap-up

Stocker, feeder cattle rally until futures plunge knocks the wind from the market

Stocker and feeder cattle prices took a big jump early last week. Then the Live Cattle futures market kicked in.

A big jump in fed cattle prices last week pushed feeder cattle prices higher until Wednesday when the Live Cattle contract dropped quite a bit. Receipts at the test auctions were 46,200 head, which was 11,000 higher than last week and 12,000 higher than last year. Prices were mostly $1-$2 per cwt higher on the yearlings until Wednesday and the stocker cattle were easily $5-$7 higher.

There was a bigger run of cows at the test auctions, but a lot more bred cows were moving which reduces the slaughter cow numbers in the ranch areas. Prices were mostly $2-$3 per cwt higher in ranch areas and steady to $1 higher in big dairy areas because of larger, more consistent numbers of slaughter dairy cows.

 

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