It wasn’t a freefall but the wholesale beef market certainly made strides to return to normalcy following the price spike of recent weeks, which was spurred along by short-bought buyers and supply disruptions due to winter weather.
Choice boxed beef cutout value reached a record $240.05/cwt. Jan. 22—it ballooned $40 in less than a month. On Friday, it was $223.39, but still about $23 higher than when the new year began.
Compared to the previous week, feeder cattle and calves sold unevenly steady to $3/cwt. lower, with the full decline in the Northern Plains where prices have been the highest, according to the Agricultural Marketing Service.
Listen to the Cattle Market Weekly Audio Report every Saturday morning on the BEEF magazine website. This is your report for Saturday, Feb. 1, 2014.
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