CattleFax Weekly Recap for February 21, 2011

WEEKLY Recap–The fed cattle market was quoted $3 to $5  higher on cash and $6 to $7 higher on dressed last week. Cattle in the South sold for primarily $110, while the North traded at $109 to $111 live and mostly $176 to $177 dressed. Trade volumes were active. Boxed beef prices softened this week as end cuts struggled to hold their value. The amount of boxes trading for spot delivery increased sharply on the lower prices, resulting is manageable inventory at the packer level. Feeder cattle prices were $3 to $5  higher on the week, while calves were $5 to $10 higher. Slaughter cows increased by another $3 to $5, reflecting excellent demand for trimmings. Corn prices continued to escalate this week. A Cattle On Feed report was issued by the USDA this afternoon. On Feed came in at 106%, the trade was expecting 105.1%. Placement were noted at 104%, pre-report estimates were at 104.5%. Marketing’s were reported at 100%, the trade was looking for 100.5%. Log in and read the latest article on U.S. Beef Cow Operation and Inventory Trends. For recent market news and analysis, visit CattleFax.com.

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This entry was posted in Markets.

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