Corbitt Wall gives the USDA Feeder and Stocker Cattle Summary for the week ending April 4.
Feeder cattle sold $1 to $4 higher and stockers—thinner fleshed and suitable for grass pasture—sold up to $8 higher. Feeder cattle trade was very active with some of the best receipts we’ve seen for a while.
New crop calves were not nearly as active as the last few weeks, selling unevenly steady. This might mean that there isn’t time for Western or South Central orders to get calves bought, backgrounded and pre-conditioned so that they get the most out of their pasture and the market might slack off this these calves.
The cattle market continues to see record prices updated almost daily. This week in the Midwestern markets several places met or surpassed $2 per pound on 7-weight steer. Bassett, Neb., saw the highest prices this week with two loads of fancy steer weighing 750 pounds and selling for $2 per pound.
As we start to get into spring this will bring a weather markets and as planting season quickly approaches Wall expects demand to slack off. At the same time receipts will start pulling back and the availability will be lighter so markets will depend on the timing of these aspects.
Watch Corbitt Wall’s full report on Beef Today’s Cattle Markets Center.