Cattle Market Notes: Week Ending Sept 26, 2014

Cash Cattle:

Cash fed cattle prices were lower this week. The five-area live and dressed steer prices were $153.12 and $242, respectively, down $0.63 and $3.23. Once again, negotiated cash trading was too thin through Friday for any prices to be called.

Reported Mississippi steer calf prices were steady and feeder steers were mostly $10 lower. Heifers were mostly steady. Cull cows were $3 lower and bulls were steady. Feeder steers and heifers in Oklahoma City were steady to $3 higher while calves were steady to $8 lower.

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Futures:

Live cattle futures contracts through the first few months of 2015 were poised to finish the week mostly even with last Friday’s close, but received a boost on Friday (longer term contract months were slightly higher until Friday’s bump). There is little indication of the reason for the jump in price on Friday, but steadiness in cash markets – excluding beef – coupled with a seasonal price increase heading into October could be the justification. Feeder futures followed live prices higher on Friday, but also saw mildly higher prices during the week.

Corn futures moved lower once again this week.

Beef:

Wholesale Choice boxed beef prices moved lower again this week. Choice boxes averaged $239.62, down $6.61. Select boxes ended the week at an average of $226.58, down $5.47.

Note: all cattle and beef prices are quoted in dollars per hundredweight and corn prices are quoted in dollars per bushel, unless stated otherwise.