Cattle prices were higher in most markets this week. Cash traded fed cattle were up $1.68 to an average of $120.15 for live sales compared to $118.48 last week. Dressed steers averaged $194.82 this week. Trade volume was back up to 105,110 head after a down week of only 8,680 head reported last week.
Steer prices in Mississippi were higher across all weight classes this week except for calves under 400 pounds. Feeders weighing 450-500 pounds were up $1.50 at $140.50 compared to $139.00 last week. Heavier 750-800 pound steers averaged $117.50, a $4.00 increase over last week’s average of $113.50.
Oklahoma City 500-550 pound steers were up $3.83 to $160.09 after averaging $156.26 a week ago. OKC 750-800 pound steers averaged $132.16 which was down 52 cents from last week.
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Live cattle futures and feeder futures continued their upward trajectory this week. February live cattle were up $1.68 on the week at $120.15, while April live cattle were up $1.15 over last week to $118.95. January feeder cattle were up $2.65 from last Friday at $132.95 while March futures are up $2.30 on the week at $131.53. Corn futures prices also rose this week with March corn up $0.11 to $3.70 and May corn futures up a dime to $3.76 as compared to last week.
Wholesale boxed beef prices declined this week with choice boxes averaging $191.65, down 35 cents from a week ago. Select boxes ended the week with an average of $187.38, a decrease of $1.21 from last week. The choice-select spread rose $0.86 to $4.27 this week, though still well below the 5-year average of $9.34.
Note: all cattle and beef prices are quoted in dollars per hundredweight and corn prices are quoted in dollars per bushel unless stated otherwise.