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Fed cattle prices rose $3 to $4 per cwt in the week ending December 29, driven by year-end factors including steady beef demand and winter weather in the feeding belt. The five-area weighted average cash steer price reached $122.52 per cwt, up $3.71 on the week.
Dressed steer prices averaged $194.25 per cwt.
Higher cash fed cattle prices lift the feeder market and tighten near-term supply for packers. The price direction is bullish for live and feeder cattle.
beefmagazine.comEd CzerwienJan 1, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
