Wednesday, August 05, 2009

Beef industry update

From the California Cattlemen's Association:

Cattle Fax Weekly Market Highlight

July 31, 2009

The fed cattle market was basically $1 lower this week. In the South, sales were primarily at $82, while the cattle in the North fetched $131 to $132 dressed. Boxed beef prices were steady to modestly lower as the prospect of larger slaughters kept a lid on buyer interest. Sales volumes on that side were moderate at best. Feeder cattle prices were $1 to $2.00 lower, while calves were $1 to $3.00 higher. More yearlings are being offered off grass, slowing demand in many cases for heavier weight cattle. Slaughter cows were mostly $1 to $2.00 higher. Corn prices traded in a volatile fashion on the week, as traders were torn between the prospects of a large crop and at the same time increased financial market strength and demand for grains going to export markets.

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