Fed cattle price up US$/cwt 2

Following two weeks of elevated slaughter volumes over 550,000, fed supplies are once again current and asking prices will be higher. Packers were willing to acquire larger inventories in the north, probably needing a few of those cattle for last week’s needs. This week will be one day shorter due to Monday Labor Day holiday.

Last week closed with mostly steady prices in the north and US$/cwt 2 higher prices in the south. Live sales in the south were mainly US$/cwt 241-2 and in the north 245, narrowing the spread between the two regions. Dressed sales were mainly US$/cwt 385 in Nebraska and higher in Iowa up to US$/cwt 392, The AG Center said.