Daily Market Summary for Wednesday, March 22nd:

TCR's Weekly Current & Projected Feedyard Closeout

Slaughter Cattle: Wednesday in Kansas and Nebraska trading has been limited on light demand. A few dressed purchases in Kansas traded at 212.00 for 15-30 day delivery. In Nebraska a few live purchases traded from 131.00-136.50. In the Texas Panhandle and Western Cornbelt trading has been inactive on very light demand. In Colorado trading has been at a standstill. Not enough purchases in any feeding region for a market trend. Last week in the Southern Plains live purchases sold mostly at 128.00. In Nebraska live and dressed purchases traded at mostly 131.00 and 210.00, respectively. In Colorado live purchases traded from 126.00-131.00. In the Western Cornbelt live purchases traded from 130.00-132.00 and dressed at 210.00.

The FCE On-Line Auction offered 3,928 total head on Wednesday with 2,195 head selling from $128.00 to $136.50 per cwt. The weighted average price was $133.35 per cwt.

Negotiated Sales: Confirmed: 5,542      Week Ago: 29,984      Year Ago: 2,558

Negotiated Prices - Slaughter Steers & Heifers:
Live Basis              Steers                                         Heifers
Dressed Basis
Not enough purchases for a market trend.

Formula Purchases: Net - Dressed
Head count priced today: 11,000
Weighted avg weight:            875
Weighted avg net price:   201.12

Alberta Beef Producers Daily Report:  Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Both live and feed cattle futures are seeing triple digit gains this morning. The April live cattle contract is trading at the highest level in over one year.

Livestock Slaughter under Federal Inspection:
                                 Cattle       Calves    Hogs        Sheep
Wednesday  (est)   116,000     2,000      441,000      7,000
Week ago (est)       113,000     2,000      440,000      8,000
Year ago (act)         106,000     1,000      438,000      6,000
Week to date (est)  348,000     6,000   1,326,000    25,000
Last Week (est)      341,000     6,000   1,313,000    25,000
Last Year (act)        327,000     5,000    1,251,000    26,000

Boxed Beef:  Boxed beef cutout values lower on Choice and firm on Select on light to moderate demand and offerings. Select and Choice rib and round cuts steady to firm while chuck cuts weak to lower. Choice loin cuts weak while Select higher. Beef trimmings not fully established. 

Cutout Values...             Choice        Select
Current Cutout Values:     223.00       215.80
Change from prior day:      -1.93          +0.39
Choice/Select spread:         7.20

Cattle Futures Summary: Live cattle futures traded $1.55 to $2.725 higher on a Wednesday that saw April 17 and June 17 both hitting the limit up. Feeder cattle futures rose $2.00 to $4.175 on Wednesday. The CME feeder cattle index was at $130.02 for 3/21, a daily gain of 7 ce nts. Wholesale beef prices in the afternoon report were mixed, as choice boxes were $1.93 lower and select was up 39 cents. Cash cattle prices on the FCE had a weighted average of $133.35, up $4.96 from last week, with 2,195 of the 3,928 head selling. In NE prices ranged from $133-$136.50, and $128-$130 in KS and TX as only 3 lots from there were sold. Estimated FI slaughter week to date slaughter is 348,000 head, up 7,000 from last week and 21,000 head above the same time last year. In the Cold Storage report released this afternoon, February US beef stocks were shown at 502,429 million pounds. That is 0.8% below last February and 6.6% lower than January.

April Live Cattle Futures: 122.45...+2.55

June Live Cattle Futures: 113.77...+2.72

August Live Cattle Futures: 108.95...+2.38

March Feeder Cattle Futures: 134.00...+2.00

April Feeder Cattle Futures: 136.35...+3.73

May Feeder Cattle Futures: 135.27...+3.77

CME Feeder Cattle Index: 130.02...+0.07
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April Lean Hog Futures: 68.15...+0.15

National Grain Market Summary: Compared to yesterday, corn, wheat, soybeans, and sorghum traded lower. Demand for cheaper US soybeans remains active as USDA reports China imported 89 million metric tons of US soybeans, approximately 3 million metric tons higher from 2016-17. According to the US Energy Information Administration, ethanol production is down 1,000 barrels this week from 1.045 million barrels/day to 1.044. Little to no support was shown for the wheat market today as forecasts indicated the possibility of rainfall this week for parts of the plains.

Kansas City Corn: 3.39...-0.02

Kansas City Soybeans: 9.51...-0.02

Kansas City Wheat: 3.87...-0.06

May Corn Futures: 3.5875...-0.0250

May Soybean Futures: 9.9975...-0.0175

May Wheat Futures: 4.2225...-0.0425

Nearby Crude Oil Futures Contract: 48.04...-0.20

Dow Jones Industrial Average: 20,661.17...-6.84

NASDAQ: 5,821.64...+27.81

U.S. Dollar Index: 99.70...-0.03

Tuesday Auction Reports...
"Click" on individual auction links for complete report
*Denotes Auction not reported by the USDA & linked to Auction's website

Ozark Regional Stockyards - West Plains MO...
Receipts:  4,670    Week ago:    2,469    Year ago:  3,895
Compared to last week, steer and heifer calves under 600 lbs traded 4.00-8.00 higher with heavier weight calves and yearlings steady to 3.00 higher. Demand was very good on a heavy supply, including several pot loads of yearling steers and heifers.

Brookhaven Livestock Auction - Brookhaven MS...
Receipts     This week    132       Last Week    112
Compared to last week slaughter cows trended Steady. Slaughter bulls trended 2.00 Higher. Feeder steers trended 7.00 Higher. Feeder heifers trended 2.00 Higher.

Franklin County Livestock Auction - Carnesville GA...
Receipts:  1259    Last Week:  774    Year Ago:  1078
Compared to one week earlier, slaughter cows and slaughter bulls mostly steady, feeder steers and steer calves 2.00 to 3.00 higher, feeder bulls and bull calves steady to 2.00 higher,

Livingston County Livestock Auction - Ledbetter KY...
Receipts: 705        Last Week: 357         Last Year: 503
Compared to last week: Feeder steers traded 3.00-6.00 higher. Feeder heifers under 600 pounds 5.00-7.00 higher, over 600 pounds steady. Slaughter cows and bulls traded mostly steady. Sale consisted of 19 stock cattle, 68 slaughter, and 618 feeders.Feeders consisted of 23% feeder steers,

Chester Livestock Auction - Chester SC...
Receipts:  348          Last week:  153           Last year:  375
No comparisons made this week due to limited comparable sales. Moderate offering of average quality cattle with active buyer participation.

Winter Livestock - La Junta CO...
Receipts:  1526    Last Week:  9366    Year Ago:  2285
Compared with last Tuesdays higher market: Steers steady to 3.00 lower, decline on 500 to 700 lbs. Heifers under 700 lbs 3.00 to 5.00 lower. Yearling feeder steers over 700 lbs steady to 2.00 lower, decline on 700 to 800 lbs.

Dickson Livestock Auction - Dickson TN...
Receipts:  1230       Last week: 607      Last year: 775
Compared to same sale last week, Slaughter 1.00 higher. Bulls steady. Steers and bulls steady to 3.00 higher. Heifers steady to 2.00 higher.

Tylertown Livestock Auction - Tylertown MS...
Receipts     This week    735       Last Week    595
Compared to last week slaughter cows trended 2.00 to 4.00 Higher. Slaughter bulls trended 3.00 to 4.00 Higher. Feeder steers trended 2.00 to 3.00 Higher. Feeder heifers trended 2.00 to 3.00 Higher.

Oklahoma City Cow and Bulls - Oklahoma City OK...
Receipts:  631      Last Week:  588      Last Year:  629 Receipts Monday:  6,545
Compared to last week:  Slaughter cows mostly steady, lean cows 1.00 lower.  Slaughter bulls steady.  Packer demand moderate to good.  A total of 293 cows and bulls sold with 47 percent going to packers.

Tulsa Livestock Auction - Tulsa Oklahoma...
Receipts:  2583    Last Week:  1469    Year Ago:  2429
Compared to last week:  Steers steady to 1.00 higher.  Heifers mostly steady to 2.00 higher.  Demand good.  Quality plain, few attractive.  Supply includes 28 percent over 600 lbs. and 41 percent heifers.

Chesnee Livestock Auction - Chesnee SC...
Receipts:  317          Last week: 128        Last year: 510
Compared to last week feeder cattle were steady. Slaughter cows and bulls were steady. There was an average offerings of good conditioned cattle with moderate buyer participation.

Bowling Green Livestock Auction - Bowling Green KY...
Receipts:  804          Last week: 849       Last year: 408
Compared last week: Feeders steers and heifers steady to 2.00 higher. Slaughter cows 1.00 higher. Slaughter bulls firm. 82 replacement cattle, 127 slaughter cattle, 595 feeder cattle.

Dixie Livestock Auction - Thomasville GA...
Receipts:  1185    Last Week:  765    Year Ago:  885
Compared to one week earlier, slaughter cows and slaughter bulls mostly steady, feeder steers, heifers, and bulls steady to 3.00 higher, steer calves mostly steady, heifer calves 2.00 to 4.00 higher,

Fort Payne Stockyard - Ft Payne AL...
Receipts:  600    Last Week:  270    Year Ago:  732
Compared to one week ago: Slaughter classes sold mostly steady. Feeder classes sold mostly steady. Trade active with good demand on feeders.

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