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Wheat deadlines push feeder cattle to markets

Wheat insurance deadline approaches and more and more feeder cattle are coming to test auctions.

Feeder cattle numbers at the test auctions are starting normal seasonal increases as we approach the March 15 insurance deadline for cattle to be moved off of wheat that is going to be evenutally harvested.  The prices were steady to $3 higher for all weights.

When we turn to slaughter cows, there were 7,000  head of cows at the twenty test auctions from Pennsylvania to Idaho and the Southern Plains. Prices were $2-3 higher, regaining more than what they lost last week. Cow meat prices continue to climb higher, but at a slower pace than a month ago. The cow cutout is still $7 below last year yet.

 

 

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