Cattle Market Notes: Week Ending December 9, 2016

Cash Cattle:

Cash traded fed cattle were lower this week. The five-area fed steer price for the week of December 1 – December 8 averaged $108.89 for live sales, and $169.96 for dressed; respectively, down $5.25 and $4.99. Total volume sold was down 5,000 head from a week ago and up 30,000 head from last year.

Feeder steer cattle and calves were mixed across the U.S. this week. Oklahoma City 500-550 pound steers were up $0.38, averaging $156.95 while 750-800 pound steers were down $3.18 averaging $133.10. In Mississippi auctions, lighter weight feeders weighing 450-500 pounds were averaging $140.00, up $2.50 from two weeks ago, while heavy steers were averaging $107.50, up $2.50 from two weeks ago.

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Futures:

Live cattle futures and feeder futures were higher this week. December live cattle were up $0.70 on the week and $13.48 lower than a year ago at $108.90, while April live cattle were up $1.35 from last week and down $16.13 from a year ago at $110.23. Feeder cattle were higher this week with January futures up $1.27 from last Friday and down $23.43 from a year ago at $125.98 while March futures are up $0.95 on the week at $122.60. March corn futures are up $0.11 from a week ago at $3.58 while July futures are also up $0.10.

Beef:                                                                                           

Wholesale boxed beef prices are steady compared to a week ago. Choice boxes averaged $189.85, up $0.30 from a week ago. Select boxes ended the week with an average of $172.26, down $0.55 from last week. The choice-select spread widened from $16.74 a week ago to $17.59 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.