Beef Brief — Week of Aug. 4, 2023

Posted August 8, 2023

Fed cattle prices stayed steady last week. Nationally, the price range for 80% Choice or higher steers was $178 to $190. The five-area steer average was $186.70, which is the second highest in history.

As the week ended, packers purchased 83,000 head in the negotiated fed cattle trade, which was 12,000 more than the previous week. Boxed beef values are not as easy going as other trade. The drop in beef production the last five weeks typically results in higher wholesale beef prices, but that has not been the case.

Currently, boxed beef cutouts came in at $301.79 for Choice and $276.48 for Select.

The national average price for feeder steers was $247.42, which closed $3.92 to $4.48 higher than in the front three months.

The highlight for this week’s Beef Brief was the nice spread Red Angus feeder calves saw at Superior’s Video Royale Sale in Winnemucca, Nevada. The Skinner Ranch, Jordan Valley, Oregon, sold a group of same-weight black-hided steers and a group of Red Angus FCCP steers. The reds brought $6/head more than their black-hided brothers. This is a bright light in the market! Other Red Angus lots included:

  • 94 head weaned steers, 620 lbs., $299.50/cwt.
  • 174 head weaned steers, 550 lbs., $327/cwt.
  • 78 head steer calves, 615 lbs., $281/cwt.
  • 93 head weaned steers, 520 lbs., $336/cwt.
  • 71 head weaned steers, 670 lbs., $278/cwt.
  • 82 head weaned steers, 580 lbs., brought $316.5/cwt.

Also, congratulations to our Red Angus Grid Master Award winners from the Video Royale Sale in Winnemucca. Grid Master awards for excellent quality and yielding cattle were presented to Skinner Ranch; the Delong family; and Alec Oliver, A2 Operations. They are the reason Red Angus calves continue to bring a premium during the Superior Video Royale Sale.