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Cattle owners remain optimistic

02/16/2012 @ 10:41am

Cattle feeders remain optimistic about this week's cash traidng following further gains in wholesale-beef prices Wednesday. The USDA reported the choice beef-carcass value rose $1.43 to $189.38, a 5-week high, while select gained $1.68 to $184.27, a 10-month peak. The latest packer bids were at $1.22/pound live, but owners are asking mostly $1.27, with some at $1.28. Dressed asking prices in Nebraska are reported at $2.04. Trading is not expected to get underway until Friday; sales last week were $1.23-1.24 live and $1.97-1.98 dressed. (curt.thacker@dowjones.com)

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(END) Dow Jones Newswires

February 16, 2012 09:10 ET (14:10 GMT)

DJ MARKET TALK: Cattle Owners Remain Optimistic On Beef Gains->copyright

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