By Josh Maples
As a followup to last week’s newsletter, this week’s article will dig deeper into the cash market reactions. Auction market prices dropped last week amid the decline seen in futures markets over the past two weeks. Prices were lower across all southeastern states shown in the tables below for both 500-600lb steers and 700-800lb steers. Prices dropped the most in Oklahoma City and in Missouri.
Prices were roughly $20 to $50 per CWT lower for 500-600 lb. steers. Averaging across all states, the value of a 550 lb. steer was about $150 lower per head in the Southeast compared to the week prior. The impacts were certainly larger in some states.