Negotiated cash fed cattle trade through Monday afternoon ranged from mostly inactive on light demand to a standstill, according to the Agricultural Marketing Service.
Prices last week were at $132/cwt. on a live basis in the Northern Plains and the Southern Plains. They were $131-$132 in the western Corn Belt. Dressed prices were at $207.
The average dressed steer weight the week ending Oct. 30 was 920 lbs., according to USDA’s Actual Slaughter Under Federal Inspection report. That was 2 lbs. heavier than the previous week but 6 lbs. lighter than the previous year. The actual dressed heifer weight of 842 lbs. was the same as a week earlier but 6 lbs. lighter than the previous year.
Cattle futures traded sideways to slightly higher Monday, amid lackadaisical trade.
Live Cattle futures closed narrowly mixed, from an average of 17¢ lower in five contracts to an average of 21¢ higher.
Feeder Cattle futures closed an average of 57¢ higher, except for 32¢ lower in the waning spot month.
Corn futures closed fractionally lower to 1¢ lower through near Mar and then mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 10¢ to 12¢ higher through Sep ’23 and then mostly 7¢ higher.
Choice boxed beef cutout value was $1.10 lower Monday afternoon at $283.20/cwt. Select was $2.25 lower at $267.28/cwt.
Net U.S. beef export sales for the week ending Nov. 4 of 20,600 metric tons for 2021 were 23% more than the previous week and 39% more than the prior four-week average, according to USDA’s weekly U.S. Export Sales report. Increases were primarily for China, Taiwan, Japan, Mexico and South Korea.
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