Cash Cattle:
Cash traded fed cattle were lower this week. The five-area fed steer price for the week of June 9-June 16 averaged $121.03 for live sales, and $195.03 for dressed; respectively, down $5.78 and $7.84. Total volume sold was up 12,000 head from a week ago and up 54,000 head from last year.
Feeder steer cattle and calves were lower across the U.S. this week. Oklahoma City 500-550 pound steers were down $5.00 while heavier 750-800 pound steers were down $4.00. Mississippi pasture were steady this week with 63% rated good or excellent, down 1% from a week ago. In Mississippi auctions, lighter weight feeders weighing 450-500 pounds were down $10.00 from a week ago, averaging $145.00, while heavy steers were averaging $120.00, unchanged from last week.
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Futures:
Live cattle futures and feeder futures were lower this week. June live cattle were down $5.68 on the week and $35.35 lower than a year ago at $116.55, while August live cattle were down $5.03 from last week and down $38.18 from a year ago. Feeder cattle were also lower this week with August futures down $8.10 from last Friday and down $86.25 from a year ago at $137.18 while October futures are down $7.53 on the week. Nearby corn futures are up $0.13 from a week ago at $4.37 while September futures are also up $0.15.
Beef:
Wholesale boxed beef prices are mixed compared to a week ago. Choice boxes averaged $225.53, down $0.07 from a week ago and $24.34 lower than a year ago. Select boxes ended the week with an average of $202.54, up $0.75 from last week. The choice-select spread narrowed slightly from last week’s record of $23.81 to $22.99 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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