MARCH 29, 2011

MARKET REPORT AND ANALYSIS

Cash trade in Nebraska at $196 in the beef sent optimism into futures and raised asking prices across all regions. Cash prices were $10 higher than the bulk of last week's trade and $5 higher than late week. Frustrated packers complained of changing asking prices but complaints fell on deaf ears. Show lists were mixed with more cattle on offer in the north and less offered in the south. The north may lose recent premiums this week as prices are established. Cattle are priced mostly at $122.

Box prices inched higher in early week trading. The choice cuts were quoted at $186 with select at $185. Export demand is keeping a floor under the beef market.

The feeder market moved higher in most auction sales across the country. Dry weather in the southern plains is still plaguing the area but short supplies of calves is keeping stocker prices high. Movement of feeder cattle off wheat fields is concluding and few will remain for graze out. Current prices for 750# steers on the southern plains are $132.

 

Corn prices fell on Monday as traders fade the long side of the grain markets. Corn is being offered currently at 20 cents over May corn. Corn is now pricing into most rations at $12.00 cwt..