Fed Cattle Recap: Bigger volume, higher prices

The feedlot cattle trade was $2-3 higher on much bigger volume for cash cattle.

It was a good week for feedlot cattle trade as more cattle sold for higher prices.

The five-area formula sales volume which includes the major feeding areas of Texas, Nebraska, Colorado and Iowa totaled 210,489 head compared to about 223,434 the previous week. The five-area total cash steer and heifer volume was 112,882 head compared to about 93,403 head the previous week and were mostly 1-14 day delivery with about 3,000 head on a national basis for 15-30 day delivery.

The estimated weekly total FIS cattle harvest was 637,000 head compared to 596,000 head the same week last year, 41,000 head over last year. Year-to-date now total over 1.2 million head over last year.

Nationally reported forward contracted cattle harvested was about 55,000 head compared to about 58,000 head the previous week. The packers have about 251,000 head of forward contract cattle available for September and 221,000 head for October.

The weekly weighted average cash steer price for the five area region was $108.5 compared to $105.88 the previous week, which was $2.62 higher. The weighted average cash dressed steer price for the five area region was $170.64 compared to $166.48 the previous week.

The five area average formula price was $167.92 compared to $167.01 the previous week. The five-area region average formula dairy bred price, which includes many Holsteins but also other breeds, was $158.37 compared to $157.54 the previous week.

The latest average national steer carcass weight for week ending September 9th was 6 lbs. higher at 896 lbs., compared to 903 lbs. the same week last year. Last year we topped out at 918 lbs. about the third week of November.
Choice-Select spread was $2.87 on Friday compared to $5.77 the previous week. Steer and heifer grading report for Wednesday, September 15, showed 79.4% Choice and Prime compared to 75.51% last year so we continue to run well over last year and are providing a lot more Choice product.

TAGS: Marketing
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