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The cash market for fed cattle was mostly $1-3 higher and cash sales volume was quite a bit higher.
The cash market for fed cattle for the week ending Nov. 9 continued its recent momentum. What’s more, the wind beneath the wings of the cash market came on a significantly higher volume, with almost 100,000 head.
Looking first at volume, the Five Area formula sales volume totaled 250,464 head, compared with about 249,000 the previous week. The Five Area total cash steer and heifer volume was 99,098 head, compared with about 75,000 head the previous week.
Nationally reported forward contract cattle harvest was about 55,000 head for the week. The packers have 210,000 head for November. National cash sales this week included 21,154 head of 15- to 30-day delivery and 23,000 head from the previous week.
Now looking at prices, the Five Area weekly weighted average cash steer price for week ending November 9 was $114.60 per cwt, which was $1.57 higher.
The weighted average cash dressed steer price was $181.04, which was $1.65 higher.
The Five Area weighted average formula price was $179.41, which was $2.74 higher.
The estimated weekly total federally inspected cattle harvest was 651,000 head, which was compared with 649,000 head the same week last year. The year to date total is about 296,000 head higher than last year and climbing quite often lately.
The latest average national steer carcass weight for the week ending October 26 was 906 pounds, which was 6 pounds higher than the previous week. The same week last year, carcass weights were 895 pounds, 1 pound higher than the previous week.
Choice-Select spread was $25.86 on Friday, compared with $25.69 the previous week and a $16.48 spread last year.
The latest national steer and heifer grading report for the week ending November 1 showed 78.43% Choice and Prime, which was almost exactly the same as the previous two weeks and compared with 79.80% the same week last year.
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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