Cattle Market Wrap-up: Prices lower than previous week

Nationally reported forward contracted cattle harvested was about  36,000 head this week.

Ed Czerwien, Market Reporter

October 28, 2020

The feedlot cattle trades for week ending October 24 were 2 to 3 lower and the cash sales volume was lower than the previous week. 

The five area formula sales volume totaled 246,342 head compared to about 249,000 the previous week. The five area total cash steer and heifer volume was 77,884 head compared to about  92,000 head the previous week.

Nationally reported forward contracted cattle harvested was about  36,000 head this week. The nationally reported 15-30 day delivery purchases this week were 28,050 head along with 37,683 head the previous week. 

The weekly weighted average cash steer price for week ending October 24 for the five-area region was 105.70, which was $2.45 lower compared to the previous week and last year the same week it was 110.13 whcih was about 0.40 higher that week last year. The current five area weighted average live formula price was 110.84 this week whcih was about 5 dollars higher than the cash price with over 72,000 head so this volume the last weeks has jumped up well over twice higher than where it was for a long time. 

The weighted average cash dressed steer price was 163.95 which was $ 4.40 lower.   The five-area weighted average formula price was 173.73 which was   $0.44 higher.

The estimated weekly total FIS cattle harvest was reported at 643,000 head which compared to 640,000 head the same week last year. 

Related:3 USDA initiatives to support beef producers

The latest average National steer carcass weight for WE 10/10/20 was 928 lbs which was 4 lbs higher than the previous week and compared to 901 lbs the same week last year which was 2 lbs higher compared to the previous week last year.                                                                                                                                  

Choice-Select spread ended the week at 16.09 on Friday compared to 16.51 the previous week and that compared to 25.60 spread last year. 

About the Author(s)

Ed Czerwien

Market Reporter

Ed Czerwien is a market analyst in Amarillo, Texas. From the heart of Cattle Feeding Country, Ed follows the cattle and wholesale markets to keep beef producers up-to-date on the market moves that affect them. He previously worked with USDA as a Market News reporter. Ed is now semi-retired and continues to work with cattle trade analysis.

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