Steady prices for fed cattle

Packers purchased for a full slaughter week this week and finished last week paying fully steady prices with the previous week. Cattle in the south sold from $224-$225 and live sales in the north were $230-$234 — mostly $230-$232 steady with last week. Dressed trades were also steady at $368-$372 and mostly $368-$370, according to The AG Center.

June was characterized by rising box prices and falling live prices resulting in major changes to processing margins. The adjustments to processing margins have corrected close to $300/head leaving some plants now with margins in the profit column.

The week started with live cattle future prices sharply higher. The AG Center argues that traders are anticipating higher fed prices and the spot August is selling at a large discount to cash.