The fed cattle market was $2.00 to $4.00 lower last week. The bulk of the sales in the north are noted at $238 to $241 dressed and $150 on a live basis. In the south, trade occurred at $148 in light volume with some sellers passing that bid. Overall trade volumes were light.
Boxed beef lost ground last week as demand slowed with cold wet weather through much of the country, as well as larger slaughter levels over the past couple of weeks that resulted in more offerings. Lower prices were noted across most of the carcass.
Feeder cattle values were steady to $5.00 higher for the week while calves ranged from $2.00 higher to as much as $5.00 lower with the full decline on light weight calves. Slaughter cows were steady to $5.00 lower.
Corn prices moved higher on the week due to a bullish prospective plantings and ending stocks report issued last Monday by the USDA.
Check out today's Chart of the Day. For recent market news and analysis, visit CattleFax.com.
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