The running of the bulls, (or is it the cash cow?), continues in the fed cattle market. The finished cattle trade was steady to $2 per cwt higher for the week ending Jan. 14.
The weekly weighted average cash steer price for the Five Area region, which includes the major central feeding areas, was $1.15 higher at $118.82, compared with $117.67 the previous week.
The Five Area region includes the Texas Panhandle area, which includes Texas, Oklahoma and New Mexico feedlots, along with Kansas, Nebraska, Colorado and Iowa-Minnesota feedlots, so it includes a very big chunk of the feedlot industry.
The cash dressed steer price was $189.75, compared with $187.97 the previous week, a $1.78 week-over-week increase.
The Five Area total cash steer and heifer volume was 80,900 head, compared with about 75,000 the previous week.
The Five Area average formula price was $188.62, compared with $185.88 the previous week, which was $2.74 higher.
The latest average national steer carcass weight for week ending Dec. 31 was 3 pounds higher at 900 pounds, compared with 904 pounds last year, so it still continues to run below last year.
The Choice-Select spread was $4.26 on Friday, down over $1 from the previous week. That compares with a $5.34 spread last year. However, it had been as low as $1.44 midweek.