The fed cattle market pushed to new seasonal highs last week over $130/cwt. Fed prices have continued to pleasantly surprise with a stronger than expected first quarter that has extended through much of April. Fed prices have been supported by strong boxed beef prices. After a brief drop in early April to $207/cwt. from the March weekly high of nearly $225/ cwt., Choice boxed beef prices have recovered to $217/cwt. by late last week. Underlying strength in beef demand, both domestic and export are supporting boxed beef and fed cattle prices even as beef production is up 4.7 percent for the year to date.

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