The fed cattle market was not fully established in the North at press
time, but the market tone was steady to softer last week. On trade that
had occurred in the North it was in a range of $248 to $252, near steady
with the previous week. In the South, live cattle traded at $161 to
$162, $1 to $2 lower than the previous week.
Boxed beef prices were mixed for the week as Choice product closed steady and
Selects closed lower, following the seasonal pattern as the spread widens into
the fall.
Feeder cattle and calves were both steady to $5 higher for the week. Feeder
cattle and calf receipts are increasing seasonally into the fall. Slaughter
cows were steady for the week.
Corn trended lower again last week as the USDA's September Crop Production
report showed an increase in yield of 4 bushels/acre over the August report,
increasing the stocks to use ratio to 14.70 percent.
Check out today's Chart of the Day. For recent
market news and analysis, visit CattleFax.com.
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