Cattle Rally In Progress, Calf Markets Uneven – Drovers Magazine

Cattle feeders seek to add another $2 to $5 to cash prices this week after last weeks solid rally. Feeders are seeing momentum with prices reaching their highest since spring 2019.

Last weeks 5-area steer price average was $129.23 per cwt., the highest average price since February 2018 when the top for the year was $129.75.

The fall calf run saw uneven prices at auction last week, with steers and heifers from $2 lower to $1 higher, according to Agricultural Marketing Service Reporters.

Demand was moderate to good, with yearlings having the best demand again, AMS reporters said. This time of year is always a struggle to hold calf prices up as there are so many of them in the marketplace.

Monday saw December live cattle futures rise 30 cents to $132.10, the contracts highest closing price since $132.20 on Sept. 2 and the highest settlement for a nearby contract since June 2017. January feeder cattle firmed 70 cents to $160.30, a two-week high close.

December live cattle extended last weeks gains behind strong cash fundamentals. Live steers in five top feedlot areas averaged $129.23 last week, the fifth consecutive weekly increase.

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Cattle Rally In Progress, Calf Markets Uneven - Drovers Magazine