Compared to last week, yearling feeder cattle started the week 3.00-5.00 lower then turning mostly 5.00-10.00 lower as the week progressed. Calves traded mostly 5.00-15.00 lower with instances 20.00 lower throughout the Southeast. Calf prices have lost a third of their value in just a few short months, as any class of feeder calves do not look attractive to buy as the bottom continues to succumb in this market free-fall.
Fed cattle prices were sharply lower this week on good volume. Through Thursday, the 5-area average price for slaughter steers sold on a live weight basis was $118.61/cwt, down $9.86 from last week’s average and down $41.37 from a year ago. The 5 area average dressed price this week for steers was $187.51/cwt, down $14.96 for the week and down $64.49 compared to the same week last year.