Yearling cattle continued to sell at steady to firm prices this week, according to the Agricultural Marketing Service. Calves, on the other hand, traded steady to $5 per cwt lower as the increasing volume of the new-crop variety enables buyers to get choosier.
An extra day in February this year contributed to higher year to year feedlot placements. Derrell Peel, Extension livestock marketing specialist at Oklahoma State University also points out placements last year were 5% less than the 5-year average.
Bearish futures markets following the monthly Cattle on Feed report helped pressure cash cattle prices this week. Calves traded mostly steady to $5 per cwt lower, according to the Agricultural Marketing Service (AMS).