Cash fed cattle were down again this week. The five-area weighted average steer price for the week ended Friday was $145.13, up $0.97 from the previous Friday, and dressed steers averaged $231.84, up $1.08. Live cattle sold at $145 in the Southern Plains. In Nebraska, live and dressed sales were reported at $145-$146 and $232-$233, respectively. There were not enough sales in the Western Cornbelt to report a price.
Feeder steers and heifers in Mississippi auctions this week were steady to $5 higher, while steer and heifers calves were steady to $10 higher. Cull cows were steady to $3 higher and bulls were $2 higher. When compared to two weeks ago, cattle sold in Oklahoma City's auction were $1-$3 higher for feeder steers and heifers, while calves were $3-$6 higher.

Futures:
Live cattle futures ended Friday higher with the largest gains on nearby, June and August, contracts. This continues to support my theory that futures trade is reluctant to fully "buy-in" to the higher market for more deferred contracts. Higher cash markets late in the week lifted spirits in spite of slightly lower beef prices. Export numbers for April were released this week and beef exports were 16.8% above year ago levels. Furthermore, strong equity markets also provided support as the S&P 500 and Dow Jones Industrial Average indices eclipsed previous records this week.
Beef:
Wholesale boxed beef prices were lower this week. Choice boxes averaged $231.81, down $1.63. Select boxes were $222.38, down $0.74.