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The feedlot cattle trades dropped down $2-3 but cash sales volume increased.
The five-area formula sales volume totaled 252,358 head compared to about 234,625 the previous week. The five-area total cash steer and heifer volume was 70,449 head compared to about 51,352 head the previous week. The national cash sales this week include about 8,700 head of 15-30 day delivery, which was down about 14,000 from the previous week. Nationally reported forward contracted cattle harvested was about 41,000 head. The packers have about 235,000 head forward contracts for June.
The weekly weighted average cash steer price for the five-area region was $108.74 compared to $111.28 the previous week, which was $2.54 lower for the week.
The weighted average cash dressed steer price for the five-area region was $173.21 compared to $177.55 the previous week which was $4.34 lower.
The five-area weighted average formula price was $183.71 compared to $182.23 the previous week making it $1.48 higher.
The estimated weekly total FIS cattle harvest was 664,000 head compared to 639,000 head the same week last year. Current year-to-date total about 467,000 head higher than last year.
The latest average national steer carcass weight for week ending June 9 was 851 lbs which was the same as the previous week but that compared to 847 lbs the same week last year.
Choice-Select spread was $15.14 on Friday compared to $18.86 the previous week and that compared to a $23.03 spread last year. Last year, the spread dropped from $30 the previous week on the heels of the daily Choice rib primal that dropped $29 that week. This year the daily Choice rib primal dropped $18 which also pushed the spread lower.
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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