Cattle Prices End Week Sharply Higher
The latest meat and livestock update from DATCP, written by Jeff Swenson, DATCP Livestock and Meat Specialist, reveals cattle prices have ended the week sharply higher.
The Market Update compiles information from various sources, including trade publications, radio broadcasts, agricultural news services, industry individuals, USDA NASS, and AMS reports.
- Negotiated fed cattle trade ended last week $4-$5 higher in the north with light trade and few sales in the south.
- Auction markets reported higher prices this week.
- Live and Feeder Cattle futures traded higher, with feeder contracts reaching record highs.
- The Choice Beef cutout ended last week at $365.57, compared to $362.27 the previous Friday.
Beef prices typically increase as the holiday season approaches, and the tight supply of cattle is bullish, although it remains to be seen how close wholesale prices can get to the highs seen during late summer.
Author's summary: Cattle prices rise sharply due to tight supply.