If cattle feeders are looking for the summer doldrums to overtake the market, they’ll have to wait a little longer. The cash market for fed cattle for the week ending June 29, while steady, was still a market where your finger had to be on the trigger.
The Five Area formula sales volume totaled 266,272 head, compared with about 263,000 the previous week. Five Area total cash steer and heifer volume was 72,778 head, compared with about 86,000 head the previous week.
Now looking at prices, the Five Area weekly weighted average cash steer price for the week ending June 29 was $110.13, which was 35 cents lower for the week. The Five Area region is comprised on Texas-Oklahoma-New Mexico; Kansas; Nebraska; Colorado; and Iowa-Minnesota. These states produce around 80% of the fed cattle market in the U.S.
The weighted average cash dressed steer price was $179.02, which was $1.37 lower.
The Five Area weighted average formula price was $180.06, $2.24 lower.
The June 28 estimated weekly total federally inspected cattle harvest was 665,000 head and that compares with 649,000 head the same week last year.
The latest average national steer carcass weight for the week ending June 15 was 849 pounds, 3 pounds higher than the previous week and still lower than a year earlier, when weights hit 856 pounds.
Choice-Select spread was $24.10 for the week, compared with $20.27 the previous week and a $13.39 spread last year. The spread is helped by the daily Choice rib primal that was $6 higher for the week. The same week last year, the price was $24 lower than the previous week.