Tuesday, January 18, 2011

Cattle Prices Fall Back

After a couple weeks of higher holiday trade, fed cattle prices settled back last week.

The 5-Area slaughter steer price averaged $105.46/cwt on a live weight basis, $0.82/cwt lower than the previous week. Dressed prices were down about $1/cwt as well.

Choice boxed beef gained nearly $4/cwt last week to average $165.81/cwt.

Feeder cattle volume picked up significantly in the first full week of the year.

While price comparisons to the previous week weren’t available in several markets, generally higher prices were noted. The price for yearlings in Nebraska averaged almost $3/cwt higher, while 500-600 lb calves were more than $10/cwt higher.

Through Thursday of last week, corn prices were $0.14/bu lower, basis Omaha, NE.

Source: Darrell R. Mark, Ph.D., Department of Agricultural Economics, University of Nebraska–Lincoln

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Artwork: Winter Save by David Stoecklein