Seasonally and cyclically snug harvest-ready cattle supplies continue to bolster markets, helped along by increasing feedlot marketing currentness, which is helping to keep a lid on carcass weights.
Overall, steers and heifers traded steady to $7 per cwt higher, according to the Agricultural Marketing Service (AMS): steady to $4 higher early in the week and then $3-$7 higher.
It was Wednesday’s Fed Cattle Exchange that seemed to spark added optimism. The weighted average of $133.35/cwt. on 2,195 head was $2-$5 higher than the previous week.
Derrell Peel, Extension livestock marketing specialist at Oklahoma State University, reports that the current market strength is more than just a seasonal first quarter price rally. He says domestic beef demand appears to be continuing stronger though March data are not yet available. However, February retail beef prices were stronger with both retail Choice and all-fresh beef prices higher.
Listen to Wes Ishmael's Cattle Market Weekly Audio Report every Saturday morning on the BEEF magazine website. This is your report for Saturday, Mar. 25, 2017.