The fed cattle market was
mostly $1/cwt. higher last week. The South traded cattle at $131 to
$132/cwt. Live trade in the North was at similar levels, and dressed trade
occurred from $207 to $208/cwt. Boxed beef was modestly lower for the week as
near-term demand has shifted towards Thanksgiving fare rather than beef. Look
for shift back towards beef in the near future. Middle meats are holding their value
while end cuts struggle. Feeder cattle prices were mostly steady for the week
while calves were primarily steady to $2.00 higher. Supplies of replacement
cattle, especially on the yearling side are starting to decrease as we move
past the fall run. Slaughter cow prices were steady to $1.00 higher this week.
Corn values were sideways to softer for the week, the record crop is nearly all
in the bin at this point.
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