Download PDF This week was full of bad news for packers. First, the cutoutscontinued on a downward trajectory at a time of year when theyshould be rallying. Then, cash cattle prices exploded higher. OnWednesday, cattle feeders dug in their heels and forced packers topay a little more than $3 up for the cattle they will …
Download PDF If one was to only look at the LC futures board this week, they might come to the conclusion that this was a good week for the cattle and beef complex. The reality is not so much. While the Feb futures was busy adding $2.50/cwt, the Choice cutout lost $6.20/cwt. and the Select …
Download PDF Cattle feeders managed to press a little more money out of thepackers this week as average live steer prices were about $0.75higher to $152.70/cwt. Packers did take on a large volume at thatprice and should now be well positioned to run a big kill next week.The cutouts were steady to slightly higher, with …
Download PDF The cash cattle market took some time to catch its breath this week,with prices almost steady with last week and near $152/cwt. At thesame time, the Choice cutout was up $2.54/cwt. and the Selectgained $3.47/cwt. Prior to this week, cash cattle were up a total of$5/cwt. in the previous two weeks, so it …
Download PDF The seasonal increase in beef prices got underway in earnest thisweek, with the Choice cutout gaining $9.26/cwt. and the Selectcutout up $7.69/cwt. Of course, when cattle feeders saw that,they wanted their piece of the pie, and they got it. Cash cattleprices advanced almost $2/cwt. to finish the week very close to$152/cwt. Since the …
Download PDF The cash cattle market surged higher this week, jumping $3/cwt. toaverage just over $150. Packers were short on cattle due to havingpurchased a rather light volume the week before. It also looks likethey are holding a relatively big forward book that they will need todeliver on in the next few weeks, so that …
Download PDF The beef market just seems to be going nowhere. This week, theChoice cutout averaged 246.31/cwt, down $0.58 from last week.This is the third week in a row that the Choice cutout has beenstuck at $246+change. The Select cutout was a lot weakerhowever, down $4.37 on the week. Apparently no one wantsSelect grade beef. …
Download PDF It was a pretty quiet week in the beef market with the Choicecutout only gaining $0.16/cwt. on a weekly average basis and theSelect cutout losing $1.62/cwt. As a result, the blended cutoutwas just a few cents lower on the week. The cash cattle marketwas stronger, averaging close to $146, which was about $1.20/cwt …
Download PDF The margin squeeze on beef packers is getting more intense. Thisweek’s margin only registered $68/head and next week could beeven smaller. That is the result of a mostly steady cash cattlemarket and falling beef cutouts. The Choice cutout lost $3.25/cwt.and the Select was down $3.40/cwt. The fact that cash cattle wereable to trade …
Download PDF It was another bad week for packers, with the cutouts tracking lowerand the cash cattle market moving higher. On a weekly averagebasis, the Choice cutout lost $4.78/cwt. and the Select cutout wasdown $7.07/cwt. Cash cattle averaged about $1.30/cwt. over lastweek and packers bought a lot more animals than they did the weekbefore. Perhaps …