This week the box beef market was lower on a smaller volume. Choice prices were down $4 and Select prices were $3.50 lower for the week.  The Choice-Select spread decreased and remains below the historical average.  There were 1,387 loads moved this week compared to 1,414 loads last week.  The Fed cattle market was lower this week compared to last week with trade occurring Thursday this past week.  Live prices in the 5-market fed cattle area were down $2 at mostly $96.  Nebraska live prices were steady to $2-3 lower at $94-97 and dressed prices were $3-4 lower at $145-149 for the week  Nebraska negotiated volume was 41,796 head, grid volume was 7,704 head,  formula volume was 17,137 head and forward contract volume was 26,752 head.  The total volume this week was 93,389 head compared to 113,929 head last week.  Steer carcass weights were 2 pounds lighter than last week at 885 pounds.  Feeder cattle prices were lower in Nebraska compared to last week and were lower at Salina Utah this week.  Nebraska 750 pound steers were $2.50 lower and 550 pound steers were about $5 lower.  Salina Utah prices were $3.50 lower for 750 pound steers and were $4 lower for 550 pound steers. The CME Feeder Cattle board was $5 lower this week.  Feeder cattle basis is below  the 5-year average for 550 steers in Nebraska and Utah.  Basis is near the average for 750 pound steers in Nebraska and Utah. Calf prices have fallen sharply in the last couple of weeks.

The national grain markets were sharply lower this past week.  Omaha corn prices were $1.00 per bushel lower at $4.39 for the week. Winter Wheat prices at Dodge City, KS were $.96 per bushel lower this week and are now at $5.79 per bushel.  The money leaving the stock markets also seems to be leaving the commodities.