Cattle Fax - Weekly Recap

The fed cattle market was $1.00 higher this week as sales in the south occurred at $124. Live trade has not been established North as we go to press, but the bulk of the North trade dressed was at $195 to $196 dressed. The Boxed Beef cut-out was flat this week although better buyer interest was evident late in the week at current price levels. Feeder cattle ranged from $2.00 higher to $2.00 lower for the week while calves were $3 to $5.00 lower. Warm days and cool evenings are creating health problems especially on freshly weaned calves. Slaughter cows were $3 to $5.00 lower as supplies are starting to increase seasonally. Corn prices drifted lower as what appears to be a record crop is nearing harvest time. An On Feed report was issued by the USDA Friday afternoon. On came in at 93% of a year ago, the trade was expecting 93.5%. Placements were reported at 89%, the average trade estimate was 91.6%. Marketing's were 96%, the average estimate going into the report was 95.5%. 

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