By Will Secor
Cattle prices remain strong year-over-year, but many areas of the country saw prices slip week-over-week. On the fed cattle side, prices for 5-Area fed steers fell by around 2 percent compared to last week. This price drop also came amid a decline in transactions, which fell by nearly 10 percent. Year-over-year price comparisons remain strong with these fed steer prices up by around 17-18 percent.
Feeder cattle price changes varied across the country. According to auction reports last week, average prices for lighter weight feeder cattle fell for most states east of the Mississippi (roughly even to about 3.5 percent declines). For heavier weight feeder steers, weekly price moves were much wider: increases of over 8 percent to declines of nearly 10 percent. Some western states saw strong price moves higher, such as Nebraska, while many others saw smaller moves either up or down. While week-over-week price movements may have been largely negative for feeder cattle, these prices remain well above year-ago levels.