CattleFax for March 21, 2011

Prices for fed cattle declined last week, reacting to a lower futures market due in part to the disaster in Japan. In the South, sales were collected at $113 to $115 which is $3 to $4  lower, while in the North, the bulk of the trade was $114 to $114.50 live and $182 to $186 dressed. Trade volumes slowed last week but remained adequate. Boxed beef values increased sharply as lower production along with short bought buyers combined to push prices higher. Volumes slowed on the rally as some buyers shied away from the increased values. Feeder cattle and calf prices ranged from $2 to $.200 lower as sales began week higher but faded as the week progressed. Slaughter cows were primarily steady to $2 firmer for the week. Corn prices started the week softer but rallied hard past mid-week as the situation in Japan become more stable. An On Feed report was issued by the USDA Friday afternoon. On Feed came in at 105% of a year ago, matching trade expectations. Placements were noted at 99%, pre-report estimates were at 98.2%. Marketing’s were 104%, trade guesses were 103.1%.
For recent market news and analysis, visit CattleFax.com.

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This entry was posted in Markets.

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