“Lower undertones were prevalent on all classes of feeder cattle on reduced receipts with prices ranging steady to mostly $5/cwt. and lower where trends were applicable,” according to the Agricultural Marketing Service (AMS).
Auction receipts were 39% lower week-to-week with winter weather disrupting cattle movement and forcing many markets to close.
Moreover, AMS analysts explain, “Direct sales were also much lighter…even for out-front delivery…as the country trade looks to auction markets for price guidance and have had a hard time trying to keep up this winter.”
As for the softer wholesale beef prices mentioned earlier, Choice boxed beef cutout value was $210.77/cwt. Friday and Select was $209.19. Week-to-week, that’s a decline of $12.72/cwt. for Choice and a decline of $15.66 lower for Select.
Listen to the Cattle Market Weekly Audio Report every Saturday morning on the BEEF magazine website. This is your report for Saturday, Feb. 08, 2014.
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