Despite what some considered to be a bearish Cattle on Feed report the previous Friday, feeder cattle prices and futures charged ahead again this week. The CME Feeder Cattle Index jumped $4.62 higher week-to-week, closing Friday at $178.55. Feeder Cattle futures increased an average of $3.05 across the board week-to-week.
Stocker and feeder cattle sold unevenly steady to $3 higher, according to the Agricultural Marketing Service (AMS).
“The average price for 6-weight steers in the South Central Region and for 5-weight steer calves throughout the Southeast was slightly lower. Softer fall-born new-crop calves are making their way onto the scene and widening the price spread against the rugged old-croppers,” AMS analysts explained Friday.
“Nevertheless, most top-quality 600 lbs. steers with a longtime-weaned and lightly-fleshed condition suitable for grass yielded prices north of $2/lb. near the major grazing regions.”
Listen to the Cattle Market Weekly Audio Report every Saturday morning on the BEEF magazine website. This is your report for Saturday, Mar. 29, 2014.
More articles to enjoy: