Calf and feeder prices continue their counter-seasonal glide this week, but yearling prices edged lower this week for the first time since May.
“Tight supplies of true yearling feeders continued mostly steady but there was some weakness noted mid-to-late week,” say analysts with the Agricultural Marketing Service (AMS). “The bulk of the feeder supply is now fully made up of calves which sold very uneven this past week with the best demand noted for stocker calves to turn out on wheat pasture. Southeastern calves headed for the Southern Plains traded steady to $5 higher, while native calves in and around Oklahoma were $1-$3 higher as turn-out dates are upon us for most rented pastures.”
Cash fed cattle lost some luster this week, too, selling $1-$2 lower at mostly $131-$132/cwt. on a live basis.
John Otte, Penton market analyst noted earlier this week that boxed beef prices are not high enough to sustain the recent record prices for cash fed cattle.
Listen to the Cattle Market Weekly Audio Report every Saturday morning on the BEEF magazine website. This is your report for Saturday, Nov.9, 2013.
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