Cattle Market Notes: Week Ending April 29, 2016

Cash Cattle:

Cash traded fed cattle down this week. The five-area fed steer price for the week of April 21-28 averaged $123.87 for live sales, and $194.50 for dressed; respectively, down $1.71 and $10.96. Total volume sold was up 3,000 head from a week ago and up 24,000 head from last year.

Feeder steer cattle and calves were lower across the U.S. this week. Oklahoma City feeder cattle were $11.00 lower for lightweights and $3.00 lower for heavier cattle. Mississippi pasture conditions are relatively good this spring with 71% rated good or excellent, up 1% from a week ago. In Mississippi auctions, lighter weight feeders weighing 450-500 pounds were down $2.50 from a week ago, averaging $160.00, while heavy steers were averaging $127.50, down $1.50 from last week.

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Live cattle futures and feeder futures were mixed this week. June live cattle were up $0.35 on the week and $34.60 lower than a year ago at $114.80, while August live cattle were up $1.08 from last week and down $35.55 from a year ago. Feeder cattle were lower this week with May futures down $1.88 from last Friday and down $73.45 from a year ago at $140.08 while August futures are down $1.60 on the week. Nearby corn futures are up $0.20 from a week ago at $3.91 while September futures are up $0.17.


Wholesale boxed beef prices are down compared to a week ago. Choice boxes averaged $215.51, down $6.76 from a week ago and $41.43 lower than a year ago. Select boxes ended the week with an average of $206.31, down $6.96 from last week. The choice-select spread widened from $9.00 a week ago to $9.20 this week.

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

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