The fed cattle market over the past two weeks has declined $3/cwt. from the January high of $124/cwt.
A relatively quiet week in the fed cattle market last week with a sideways direction for the cash fed cattle price, now in its 4th week at the $124/cwt. level.
The fed cattle market continued on the same track last week remaining at $124/cwt. Fed cattle prices have now increased for 18 straight weeks basis the USDA 5-area Weighted Average Direct Slaughter Cattle report.
Cash fed cattle prices remained firmer last week with instances of $120/cwt. live trade in Iowa, while eastern Nebraska saw the top end of $190/cwt. dressed, resulting in a weekly live average of $119/cwt.
Cattle feeders took a firmer grip on the rope last week with a cash fed cattle price more than $2/cwt. higher than the week prior, although that detail is lost in the pricing table due to rounding.
The fed cattle market average last week was steady on the week prior with a $115/cwt. average on a live basis and $181/cwt. dressed.
Cattle and boxed beef markets have posted significant gains over the past two weeks in a continuation of what has been an impressive recovery since the unsettled markets of August/September.
The past two weeks have featured fed cattle prices in a slowly increasing trend with the 5-area weighted average in the range of $109-$110/cwt.
From a seller’s perspective, the fed-cattle trade continues to improve, with last week’s numbers making it the third straight week of higher prices since September 9th.