April 8, 2011
 

US cattle prices surge

US cattle prices continue to increase dramatically as fed-cattle trade developed on Thursday (Apr 7) with steer and heifer prices averaging over US$123 per hundredweight, according to the USDA.

Thursday's (Apr 7) Daily National Cattle and Beef Summary shows about 62,800 steers and heifers sold on a live basis. In dressed markets, sales are much lighter so far this week with fewer than 4,000 head reported. Dressed steers averaged US$196.69 per hundredweight with heifers averaging US$195.50. Cattle feeders last week said most northern feedyards were near the end of their market-ready yearlings and a few weeks away from the first of this spring's calf-fed supplies, so it is not surprising if dressed-basis sales drop off.

Wholesale beef prices have lost some ground this week, with the choice cutout on Thursday (Apr 6) dropping US$0.70 to average US$190.93 per hundredweight. The select cutout lost US$0.08 to average US$187.01, and the choice-select spread stands at US$3.92.