CattleFax - Weekly Recap

The fed cattle market was mostly $2.00 higher last week. In the north cattle sold primarily at $143 to $144 live and $227 to $229 dressed. For the south, the bulk of the trade was collected at $142 to some $142.50 late. Boxed beef moved sharply higher again last week as short bought buyers were faced with high asking values and had little choice but to pay up to secure the limited offerings. Both the cash and beef prices once again recorded new all-time highs during the week. Feeder cattle values were steady to $2.00 higher last week while calves were $2 to as much as $10.00 higher. Demand was stout for all classes of replacement cattle due to the higher fed cattle prices and profitability in the feedlot sector. Slaughter cows were $1 to $3.00 higher amid tight supplies and higher trimming prices. Corn ended the week lower after an early week rally following last week's USDA crop report that was considered bullish. Check out today's Chart of the Day. For recent market news and analysis, visit CattleFax.com.