As we flip the calendar to August, feeder cattle continue their normal seasonal declines. Fortunately, while volume may be decline, prices have turned around and creeped higher with the bulk of the prices mostly steady to $4 higher. Feeder cattle prices did start to decline on Wednesday following the CME declines, so the top end of the price ranges were set early in the week.
The slaughter cow prices continue to creep higher even though the cow meat prices continue to drop. The slaughter cow numbers at the test auctions were very similar to the previous week but much lower than earlier this year, which no doubt helped push cow prices higher again.