Cattle markets bounce back

After a lackluster first week of February, cattle prices moved solidly higher for the week ending Feb. 10. Steer and heifer calves sold $4 to $10 higher, according to USDA market reporters, with steers and heifers steady to $3 higher in the Southeast.

“Trade was active with the best demand for stocker cattle,” AMS said. “The cattle market saw some optimism after last week’s rough go-round in the sale barns. Feeder cattle futures have been up and down this week, with the biggest moves coming mid- to late in the week. Despite the roller coaster ride, cattle buyers were aggressive on the light to middle weight calves, as spring is approaching fast and buyers are thinking of green pastures ahead.”

Cash fed cattle traded in the South at $119 per cwt to $120.50, steady to $1 higher compared with the previous week. Cattle in the North also traded at $119 to $120.50, but that was steady to $3 higher than the previous week. Dressed trade was at $190 to $191 per cwt.

On Wednesday, 3,616 head of fed cattle sold on the Fed Cattle Exchange with a weighted average price of $117.60 per cwt. Prices ranged from $115 to $120.50 per cwt.

Source: Drovers