Fntag, Site-day, Kay 27,157 S
Cattle
(Continued from Page 1)
graded cattle were recorded
$2 to $3 higher, with mixed
good and choice feeder
steers commanding a price
as high as $65 per hun
dredweight.
The weekly summary for
Lancaster County this week,
(ending Friday, May 26),
shows that slaughter steers
were progressively higher
throughout the week and
closing $2 to $3 higher.
Slaughter heifers were
steady to $1 higher; cows
mostly steady, instances to
$1 lower; bullocks steady to
$1 lower; bulls $1 lower,
instances $2 lower.
Feeder cattle in St. Louis
were reported firm to $2
higher on Thursday. Feeder
steers, choice, weighing 400
to 300 pounds, brought $67 to
$69.50 per hundredweight.
Oklahoma reporter 30(M00
pound choice feeder steers
commanding prices as high
as $74.25. Choice feeder
heifers, weighing 300 to 500
pounds, brought 58 to 60
dollars per hundredweight at
major Midwest auctions.
Utility and commercial
slaughter cows are con
tinuing to bring prices up
wards of $4O per hun
dredweight, with some going
as high as $44.
Vealers, bulls, and
bullocks, however, are lower
compared to a week ago.
Detailed market reports are
inside.
The comparatively high
prices being paid currently
have caused a lot of talk and
speculation among cat
tlemen and market ob
servers. Among them is
Penn State’s Extension
economist, H. Louis Moore.
He observes:
“Hardly a day passes
when I don’t see at least one
article predicting ham-
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burger as za “endangered
species” with a price rising
to $2.00 per pound. The latest
one by a custom cattle
feeder in California justified
$2.00 hamburger because
there just aren’t enough old
cows around anymore.
Before we get too carried
away, let’s calm down and
take a look at what is hap
pening. It is true that the
slaughter of nonted beef
may drop 20 to 25 per cent
below a year ago. This will
put some strain on ham
burger production from non
fed animals but we will still
have unports totaling about
7 per cent of our total beef
production. There will also
be considerable substitution
of meat from fed animals to
make hamburger. For
several months slow-moving
chucks from fed beef have
been moving into the
hamburger trade. Con
sumers have a taste for
hamburger and will continue
to want this meat. '
But $2.00 per pound
hamburger - not in the near
future for a number of
reasons;
(1) the average price of all
beef cuts m retail in
February 1978 was $1.51 per
pound. Choice grade beef
averaged $1.38 for all of 1977.
Hamburger averaged about
$.85 for all of 1977, about 61
per cent of the price of all
beef. In February ham
burger had risen to $.93 per
pound. If hamburger prices
kept the same relationship to
total beef prices and rose to
$2.00 then the composite
price of all beef would be
around $3.00 per pound.
Porterhouse steak would be
in the range of $5.00 per
pound. Starts to sound
ridiculous, doesnt it?
Another factor is (2)
substitution of meats. Since
hamburger is the cheapest
beef product, other beef cuts
will be directed to ham
burger m large quantity
(Turn to Page 48)
AND
The best feeder cattle are commanding prices of choice slaughter cattle are “in style' at prices in
around $7O per hundredweight. Prime and high the $6O to $64 price range.
- ‘
. ■"< ‘ u
' ’ '
v
Cattle auctions, such as this one at the Lancaster
teresting lately since prices are up.
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