Steers and Heifers Lower, Fed Cattle Standoff

December 7, 2018 04:49 PM
 
Steers and heifers sold lower at auction this week while fed cattle were untested.

Steers and heifers sold $3 to $8 lower on the week, with instances of $10 lower, according to Agricultural Marketing Service reporters.

Cattle feeders and packers were at a standoff Friday, with asking prices at $120. The last confirmed trades were at $117 to $118. The market was expecting a firmer undertone, and dressed prices in Nebraska at $187 earlier Friday was $2 to $4 higher than last week.

Early winter storms have caused significant setbacks to cattle on feed in northern yards, with southern yards expecting a dose of the same this weekend.

Boxed-beef cut-out values continue to hold firm. For the week, the Choice cutout closed $1.68 higher at $214.29, while Select was $2.09 higher at $200.50. 

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