Cattle Market Notes: Week Ending September 16, 2016

Cash Cattle:

Cash traded fed cattle were higher this week. The five-area fed steer price for the week of September 2 – September 9 averaged $106.98 for live sales, and $168.05 for dressed; respectively, up $1.94 and $1.76. Total volume sold was up 76,000 head from a week ago and up 28,000 head from last year.

Feeder steer cattle and calves were mostly lower across the U.S. this week. Oklahoma City 500-550 pound steers were selling for $146 while 750-800 pound steers were averaging $136. In Mississippi auctions, lighter weight feeders weighing 450-500 pounds were averaging $130.00, down $5.00 from a week ago, while heavy steers were averaging $105.00, down $0.50 from last week.

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Futures:

Live cattle futures and feeder futures were higher this week. October live cattle were up $3.47 on the week and $28.05 lower than a year ago at $107.88, while December live cattle were up $2.90 from last week and down $30.33 from a year ago at $108.05. Feeder cattle were higher this week with October futures up $2.30 from last Friday and down $68.05 from a year ago at $132.95 while November futures are up $2.60 on the week at $130.70. December corn futures are down $0.15 from a week ago at $3.25 while March futures are down $0.15.

Beef:                                                                                           

Wholesale boxed beef prices are lower compared to a week ago. Choice boxes averaged $186.48, down $3.01 from a week ago. Select boxes ended the week with an average of $180.01, down $3.76 from last week. The choice-select spread widened from $5.72 a week ago to $5.72 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.