The fed cattle market was $5 to $6.00 higher last week. In the
south, cattle sold for $147 to $149 with the bulk at the $147. Trade in the
north was primarily $148 to $150 live and $240 to $242 on a dressed basis.
Boxed beef had another steep advance as asking prices were higher with sellers
attempting to offset the higher fed cattle prices.
Demand slowed at weeks end as buyers began resisting the higher asking prices
that were posted. Feeder cattle values were steady to $3.00 softer for the week
while calves were steady to as much as $5.00 lower. Slaughter cows were steady
to weak.
Corn prices closed the week lower with little news available to push the market
very far one way or the other. An On feed report was issued by the USDA on
Friday. On Feed came in at 95% of a year ago, the trade had estimated it would
at 94%. Placed into feedyards was 101% of a year ago, the trade estimate was
98.1%. Marketing's came in at 99%, the trade was expecting 102.2%.
Check out today's Chart of the Day. For recent
market news and analysis, visit CattleFax.com.
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