Feeder cattle continued to move off of wheat pastures this week and trade volume was much higher. There were 42,000 head sold; that was 20,000 head higher than last year. Prices continued to move higher all week with the highest prices being set mid-week. Prices were mostly $3-10 higher and were no doubt helped by the fat cattle that jumped up to $110 in some areas, which also pushed the CME higher.
Slaughter cow numbers are dropping which is normal this time of the year when cows are turned out on pastures. The cow prices continued to climb higher and were mostly $2-3 higher on the heels of much, MUCH higher cow meat prices. The cow cutout on Wednesday was $211.60, up over $14 from the previous Wednesday.