By James Mitchell
As a follow-up to last week’s article, this week’s article provides an update on the cash market reaction to several weeks of policy uncertainty. Auction markets were mixed across states and weight classes. Calf prices were mostly higher, while feeder cattle posted another week of declines.
Prices for 500-600 lb. steers in the Southeast (AL, AR, KY, MS, TN) averaged $370 per cwt last week, $1.80 higher than the previous week but still $25 lower than the week of Oct 17. Prices for 700-800 lb. steers in the same region averaged $317 per cwt, down $5.89 from the prior week and $26 lower than three weeks ago.
The charts shown in this article are an update from last week. Each shows the prices of 500-600 lb. steers and 700-800 lb. steers in Mississippi, Arkansas, and Kentucky since the beginning of 2024. These are weekly statewide average prices. Both charts show sharp declines over the past few weeks, following a volatile period for cattle and beef markets that are receiving national media attention. Despite these declines, prices remain 70-80% higher than levels seen last fall.
Source : osu.edu