Ed Czerwien, market analyst based in Amarillo, Texas, offers a concise summary of last week's beef cutout trade where prices continued to decline.
Cash prices for fed cattle were steady early in the week ending May 30 but tailed off as the week progressed. However, cash sales volume was higher than the previous week.
It was a typical holiday week with lower volume for both feeder and slaughter cows.
Feedyards were adapting to changing dynamics in the beef business long before COVID-19 was a household word.
Ed Czerwien, market analyst based in Amarillo, Texas, offers a concise summary of last week's beef cutout trade.
Cash prices for fed cattle improved again and were steady to $10 higher on smaller cash sales volume.
Prices are holding steady as larger runs of feeder cattle and slaughter cows come to town ahead of Memorial Day weekend.
The cutout finally faltered and ended its endless climb higher to settle about $25 lower week over week.