Cash Cattle:
Cash traded fed cattle were mixed this week. The five-area fed steer price for the week of June 2-June 9 averaged $126.81 for live sales, and $202.87 for dressed; respectively, up $3.99 and up $1.55. Total volume sold was up 71,000 head from a week ago and up 49,000 head from last year.
Feeder steer cattle and calves were steady to slightly lower across the U.S. this week. Oklahoma City 500-550 pound steers were averaging $170.32 while heavier 750-800 pound steers were averaging $146.01. The rain last week was much needed with Mississippi pasture conditions 64% rated good or excellent, unchanged from a week ago. In Mississippi auctions, lighter weight feeders weighing 450-500 pounds were unchanged from a week ago, averaging $155.00, while heavy steers were averaging $120.00, down $6.50 from last week.
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Futures:
Live cattle futures and feeder futures were mostly lower this week. June live cattle were up $0.17 on the week and $30.23 lower than a year ago at $122.23, while August live cattle were down $0.38 from last week and down $33.28 from a year ago. Feeder cattle mostly lower this week with August futures down $1.47 from last Friday and down $78.18 from a year ago at $145.28 while October futures are down $1.10 on the week. Nearby corn futures are up $0.05 from a week ago at $4.24 while September futures are also up $0.08.
Beef:
Wholesale boxed beef prices are higher compared to a week ago. Choice boxes averaged $225.60, up $3.20 from a week ago and $20.78 lower than a year ago. Select boxes ended the week with an average of $201.79, up $1.21 from last week. The choice-select spread widened from $21.82 a week ago to $23.81 this week, which continues the trend of some of the widest spreads in more than 10 years.
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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