CattleFax for April 11, 2011

The fed market continued to trade near the previous week’s highs depending on region. Tighter supplies in the North allowed for cash trade in the beef, but prices were off $2 from a 2 weeks ago. In the South, where supplies are seasonally more adequate, cash traded from $123 to $124 live, which was up $1 to $3 from 2 weeks ago. Live cattle futures cooled $1 to $2 last week. Box beef volumes were down slightly, and prices were steady to higher for the week despite weaker end meat purchases. The Choice and Select cutouts had improved $3.50 and $2.50, respectively, early in the week. However, those prices pulled back about $1 by last Thursday. Feeder cattle values were even to $3 higher, and the feeder index reached an all-time high at $136.03. Sale volumes are light, but calves were quoted $2 lower to $5 higher on the week. Slaughter cows were mostly steady, but still at very high levels. Corn prices were steady to slightly higher on the week, but remain over $1.50 higher than their lows four weeks ago. For recent market news and analysis, visit CattleFax.com.

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This entry was posted in Markets.

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