CattleFax - Weekly Recap

The fed cattle market was mostly $1 to $2.00 lower last week, with the full decline noted in the North. In the South, the bulk of the trade was at $145, while sales in the North were primarily at $146 to $147.50 live and $234 to $236 on a dressed basis. Boxed beef was steady on choice and modestly higher on selects last week. Lower slaughter levels helped to stabilize the boxed beef market. 

Feeder cattle prices were steady to as much as $4.00 higher for the week while calves were mostly steady to $3.00 firmer. Slaughter cows were steady to $2.00 higher as summer grilling demand moves to center stage. 

Corn prices worked lower last week as planting proceeds quickly in the Midwest. An Cattle On feed report was issued Friday. On feed came is at 99% percent of a year ago, trade estimates were 99.2%. Placed on feed was reported to be 95%, the trade was expecting 96.8%. Marketed was 98%, the pre-report estimate was 97.9%.

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