The fed cattle market was
steady to $1.00 higher last week. In the South, sales occurred at $146,
while in the North live trade was primarily at $148 to $149 on a live basis and
$236 to mostly $238 dressed. Boxed beef traded sideways to firmer early in the
week, but turned lower late as sellers were forced to discount prices in order
to move some inventory. Feeder cattle prices were $1 to as much as $5.00
higher last week while calves were even to $2.00 higher. Slaughter cows
were mostly steady to $2.00 higher. Demand is very good for all classes of
feeder and stocker cattle with supplies, especially on lighter weight cattle
becoming limited. Corn moved lower as the week progressed amid talk that
planting was increasing and getting closer to the seasonal norm for this time
of the year.
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