This week will present a face off between buyers and sellers for price records in every aspect of beef production. Last week turned in the highest prices every paid for cattle in almost all departments including cattle futures. Supplies of fed cattle won’t increase this week although some producers may chose to pull cattle forward.
This past week competition for fed cattle never stopped and packers never backed off from paying higher prices each day. Meanwhile the front end futures were struggling to make up the gap between futures and cash prices but failed and at week’s end remained at least US$ 10 under current cash. Each day topped the previous in higher cash prices across the plains. Cattle first traded in the south at US$/cwt 225 then progressed daily to US$ 228; then 230; then 232; and finally US$ 235. In the north that had been quiet until late week, cash prices started at US$/cwt 240 live and US$/cwt 380 dressed and moved to US$/cwt 244 by week’s end. These prices were US$/cwt 7-10 higher than last week, The AG Center reported.
