April 3, 2007

US Plains cattle markets quiet, no bids-trade
 

Fed cattle markets in the US Plains were quiet early on Monday (April 2), with some feedlots shipping cattle that traded last week, feedlot sources said.

No bids were reported and this week's cattle were priced at about US$98.

Cattle traded last week at US$95 to US$96 per hundredweight (cwt), down US$1 to US$2 from a week ago. Cattle moderately traded at mostly US$96 on Tuesday (March 27) and mostly US$95 on Wednesday (March 28) and Thursday (March 29).

At those prices feedlots broke even or made small profits, some sources said.

Some of last week's sales were shipped to beef plants early on April 2. Weight information was not yet available, but sources said the recent mild weather had improved weight gains.

Colder weather was forecast in much of the Plains beginning on Wednesday with a chance of rain or snow. Overnight lows then were forecast to be in the 30s Fahrenheit, they said.

Late on Friday, USDA quoted the choice boxed beef cutout at US$151.86 per cwt, down 61 cents from Thursday and down $6.15 from the previous week.