First Quarter Cattle Market Update

Today AgriBeef’s Vice President of Risk Management Kevin Hughes will give an update on the cattle market.
Hughes: “The first quarter of 2015 we’ve seen cattle and feeder cattle markets back off of their all-time record prices that were set in the fourth quarter of 2014. Yet, prices are significantly higher than last year at this time. Fed cattle prices are currently $167 a hundred weight versus $149 last year which equates to $243 a head higher. 550 pound steer calves are currently $286 versus $220 last year which is $363 a head higher. March fed cattle slaughter is currently 5 percent lower than last year and the smallest weekly average in the last 25 years. The first quarter placements of cattle in feed yards looks like it is going to average about 9 percent lower than last year which equates to about 480,000 head. One of the limiting factors of feed yard placement has been areas of the country that has seen improved moisture allowing them to retain heifers which keeps those heifers from entering feed yards.”