Feeder steers and heifers traded mostly steady to $7 per cwt lower, according to the Agricultural Marketing Service (AMS). Trade was a touch stronger in the Southeast at steady money to $3 lower. There were also instances of trades at $1-5 more than the previous week.
“Demand was moderate to good for all weight classes,” AMS analysts say. “The higher prices were generally noted on the limited supply of weaned calves suitable for grazing and heavy yearlings with less time expected in the feedlot as buyers are hoping to cash in before slaughter prices fall…Un-weaned fall calves are starting to make their way to the market and buyers are quick to place discounts, especially if calves are too fleshy.”
Although wholesale beef values remain higher than some anticipated, amid the expected seasonal decline, tumbling prices continue to add market pressure.
Choice boxed beef cutout value was $6.90 lower week to week at $207.22 per cwt on Friday. Select was $6.51 lower at $197.49. Choice declined $14.40 over the last two weeks; $18.06 lower for Select.
Listen to Wes Ishmael's Cattle Market Weekly Audio Report every Saturday morning on the BEEF magazine website. This is your report for Saturday, APR. 8, 2017.