Calf and Feeder Prices Are Close to Record

Calf and feeder prices were close to record numbers this summer. Fed cattle prices averaged $73.54/cwt. during June and calf prices averaged $122.46/cwt. Monthly prices for steer calves have ranged above $100/cwt. since November 1999. Prices for 650 pound feeder steers ranged from $89.50 to $94.50/cwt. during 2000 and averaged $95.72 in June.

Prices for steer calves and feeder cattle averaged an all-time record $109.12/cwt and $91.91/cwt. respectively during 2000, while fed cattle prices averaged $69.65/cwt. -- the highest annual price in seven years.

High fed cattle prices are due to increased demand and strengthening boxed beef prices. The weather compounded tightening supplies of market-ready cattle during the first quarter of 2001. Supplies continued strong, but are less than last year's beef export demand. The recovering Asian economy and European Union marketing disruptions due to foot-and-mouth disease resulted in record by-product values. Higher fed-cattle prices and relatively low feed-grain prices resulted in record prices paid for feeder cattle and calves.