Steady fed cattle prices

World leaders across the political spectrum are attempting to mitigate the warring between Israel and Iran. The attacks on oil depots in Iran could threaten oil supplies in the world. Escalating war threats also impair world trading including beef shipments to export destinations. Monday’s mood was somewhat calmer and oil prices moderated in overnight trading.

In the south last week, cattle traded from US$/cwt 235 to 240 live with the bulk of trades to the low end of the range. In the north, light trades at US$/cwt 242 were accompanied by dressed trades at US$/cwt 380 — mostly steady with last week. The weekly slaughter volume is in decline as packers attempt to pass along increased cost to the retailers, The AG Center said.