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Cattle Market Weekly for February 16, 2019

Possible trade deal with China could help support U.S. beef prices. On average, prices held steady showing some gains in select areas.

Calf and feeder cattle prices mostly hovered this week as folks considered the short-term ramifications of a trade deal between the U.S. and China, which appeared more likely. As well, Congress and President Trump removed some market uncertainty Friday with passage and signing of appropriations legislation to fund the government and avoid another shutdown.

Steers and heifers sold $2 per cwt lower to $2 higher in the North Central and South Central regions of the nation, according to the Agricultural Marketing Service (AMS). Prices were $2-$5 higher in the Southeast.

Other than an average of $1.54 lower on either end of the board, Feeder Cattle futures closed an average of 43 cents lower week to week on Friday.

“With the expectation of bountiful forage in the spring, due to favorable moisture levels, stocker producers are providing support to the calf market; this is expected to continue through late March and early April,” says Andrew P. Griffith, agricultural economist at the University of Tennessee explains in his weekly market comments.

Steers and heifers sold $2 per cwt lower to $2 higher in the North Central and South Central regions of the nation, according to the Agricultural Marketing Service (AMS). Prices were $2-$5 higher in the Southeast.

Other than an average of $1.54 lower on either end of the board, Feeder Cattle futures closed an average of 43 cents lower week to week on Friday.

Listen to Wes Ishmael's Cattle Market Weekly Audio Report every Saturday morning on the BEEF magazine website. This is your report for Saturday, Feb. 16, 2019.

TAGS: Marketing
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