January 24, 2017
Cattle feeders who have been in the business long enough to remember the last few big price breaks know better than to look back in a bull market. Ol’ Griz may be snapping at your heels.
But it’s tempting, given this recent price run for cash fed cattle. The finished cattle trade was $2-$4 per cwt higher for the week ending Jan. 21, welcome news across the cattle feeding world.
The weekly weighted average cash steer price for the Five Area region, which includes the major central feeding areas, was $121.89, compared with $118.82 the previous week, which was $3.07 higher.
The cash dressed steer price was $5.05 higher at $194.80, compared with $189.75 the previous week.
The Five Area total cash steer and heifer volume was 107,723 head, compared with about 80,000 the previous week.
The Five Area average formula price was $189.00, compared with $188.62 the previous week, which was a 38-cent increase.
Five Area formula sales totaled 155,468 head, compared with about 177,000 the previous week.
Nationally reported forward contracted cattle harvest was about 54,000 head, compared with 54,000 head the previous week. Packers have over 245,000 head of forward contracts available for January and more than 256,000 head for February.
The latest average national steer carcass weight for week ending Jan. 7 was another 5 pounds higher at 905 pounds, compared with 902 pounds last year, one of the few times we have been heavier than last year in quite a few months.
The Choice-Select spread was $3.78 on Friday, down about 50 cents from the previous week and that compares with a $4.15 spread last year.
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