Monday, April 27, 2009

Cattle News

Fed Cattle Prices Continue to Improve

Boise-Fed cattle prices improved for the fifth consecutive week with the five-market weighted average live price averaging $88.91 per cwt.

Wholesale beef prices strengthened, with choice beef price on April 21st at $149.29 per cwt, up $10.81 per cwt from a week earlier. Select beef at $147.50 per cwt was up $9.15 per cwt.

The simple composite cutout value and average fed steer prices are now at or near 5-year averages. Corn prices that are near $2 per bushel cheaper than one year ago are a welcome relief to feeders.

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