Cattle Markets Soften Last Week But Remain High

USDA Grain and Livestock Market Report Greg Sanders shares last week’s cattle market update for the Pacific Northwest.

 

Sanders: “Feeder cattle at the sales barn yesterday the heavy weights were quite a bit lower — the 750 to 8-weights were quite a bit lower from the week before but it was a really light test. Feedlots are going down to California now and contracting yearlings down there at $168 to $169 and bringing them up here — that makes them delivered in at $174 to $175 for May and June delivery. There is still pretty good demand for yearlings for out front for May and June but not current delivery because a lot of these feedlots around here are full for the moment.”

 

Chicago May Wheat ended Friday down 10 and 1/4 cents at 6-93 and 1/4. May corn ended the day up a 1/2 of a cent at 4-79.

 

Portland prices for soft white wheat were steady to down 10 and 1/2 cents at mostly 7-61 and 3/4. White club wheat prices were steady to down 10 and 1/2 cents at mostly 8-11 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 10 and 3/4 cents at mostly 9-01 and 1/4. DNS wheat with 14 percent protein prices were down 12 cents at 9-16 and 1/4.

 

April live cattle were down 42 and half cents on Friday at 144-even. April Feeder cattle were up 62 and half cents at 175-27 and half. April class III milk was up 48 cents at 23-53.