Cash fed cattle prices reached new record levels Thursday with trades at $170 per cwt. USDA called trading activity moderate on limited number of supplies in Kansas, Texas, Nebraska and Colorado.
Compared to last week, cash fed cattle prices were $6 higher on lives sales and $7 per cwt. higher on a dressed basis. Cattle sold on a dressed basis at $265 per cwt.
Boxed beef prices Friday morning averaged $239.74, which is $2.23 lower than the previous Friday. The Choice/Select spread was $14.60.
Slaughter cows and bulls sold steady to $4 per cwt. higher. USDA's Cutter cow carcass cut-out value Friday morning was $233.96, up .77 per cwt. from last Friday.
The USDA Cattle on Feed Report showed a 1 percent drop from Oct. 1, 2013, with just 10.1 million head of cattle in feedyards with capacity at or more than 1,000 head.
Placements were also down 1 percent for September with just 2.01 million cattle entering feedlots last month.
Marketings of fed cattle continued the 1 percent drop trend with 1.68 million head sold in September.