Cattle and beef markets started showing possible signs of wear this week, but continued to command historically high prices, according to the Agricultural Marketing Service (AMS) Friday. Calf and stocker cattle sold steady to $5 higher overall. Near the major grazing regions, though, 6-weight grass cattle traded fully $6-$8 higher.
“Forward contracting of fall yearlings is already at a sizeable premium to current delivery sales and starting to hint that price levels could go much further,” AMS analysts say.
Feeder cattle weighing more than 800 lbs. sold weak to $2 lower with most of the decline in the Southern Plains.
Listen to the Cattle Market Weekly Audio Report every Saturday morning on the BEEF magazine website. This is your report for Saturday, Mar. 22, 2014.
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