Summary for Friday, April 21st:
Slaughter Cattle: Friday in the Southern Plains and Nebraska trading has been limited on light demand. In the Southern Plains a few live purchases have traded at 132.00. In Nebraska a few live purchases have traded at 133.50. In Colorado and Western Cornbelt trading has been inactive on very light demand. Not enough purchases for a full market trend in any major feeding region. Wednesday was last fully reported market trend in all regions. In the Texas Panhandle live purchases were at 132.00. In Kansas live purchases were mostly at 130.00 with a few up to 132.00. In Nebraska live and dressed purchases were at 133.00 and 210.00-212.00, respectively. In Colorado a light test of live purchases traded from 131.00-133.00. In the Western Cornbelt live and dressed purchases were from 130.00-134.00 and 212.00, respectively.
Negotiated Sales: Confirmed: 5,074 Week Ago: 2,429 Year Ago: 39,026
Prices - Slaughter Steers & Heifers:
Net - Dressed
Alberta Beef Producers Daily Report: Alberta direct cattle sales so far this week have seen light trade develop with the bulk of dressed sales marked at 294.00 and 295.00 delivered. Initial sales are 5.00-6.00 higher than the previous week. Profit margins remain very impressive on the cattle being marketed which is encouraging producers to sell cattle ahead of schedule. A lot of yearlings have break even in the low 140's and early placed calves have break even in the mid 130's.
under Federal Inspection:
Boxed Beef: Boxed beef cutout values firm to higher on light to moderate demand and moderate offerings. Select and Choice rib and chuck cuts steady to weak while round cuts firm. Choice loin cuts higher while Select steady. Beef trimmings unevenly steady on light to moderate demand and moderate offerings.
Cattle Futures Summary: Live cattle futures were higher in most contracts on Friday, with August the only month lower, down 2.5 cents. They finished the week $4.425 higher in the April contract. Feeder Cattle futures were mixed on the day with April up 65 cents and May 50 cent lower. The CME feeder cattle index was at $138.05 on 4/20 , up 40 from the previous day. Wholesale beef prices were higher in the afternoon report. Choice boxes averaged $217.16, up $1.44, with Select gaining 32 cents with an average price of $203.89. The COT report had managed money continuing to add to their net long position in live cattle futures and options, by another 8,161 contracts. Cash cattle trade is fairly light today, with the USDA reporting sales of $132 in the South and $133.50 in NE. Estimated FI cattle slaughter through Saturday is at 595,000 head. That is up 5,000 from last week and 10,000 head from the same week last year. The COF report showed April cattle on feed 0.47% higher than April 2016, at 10.904 million head. March placements were 11.1% above the previous March, with marketings 9.56% ahead of March 2016.
April Live Cattle Futures: 129.80...+0.18
June Live Cattle Futures: 116.70...+0.23
August Live Cattle Futures: 112.77...-0.03
April Feeder Cattle Futures: 138.55...+0.65
May Feeder Cattle Futures: 139.25...-0.50
August Feeder Cattle Futures: 142.25...-0.20
Feeder Cattle Index: 138.05...+0.40
May Lean Hog Futures: 63.02...-0.78
National Grain Market Summary: Compared to last week, grain and soybean bids were mostly lower. This spring it has been too wet for planting in many areas, however, may corn continues to stay above its March low of $3.54 1/4. Brazil continues to see good growing conditions for its second corn crop and there is more rain in the forecast which is beneficial for its production. May soybeans persists to trade above the low of last week’s outside reversal, however, the large supply of freshly harvested soybeans in Brazil continues to linger over the market’s head. There is passive support in wheat offered by commercials, but not enough to stop the downtrend. In 2017 the winter wheat crop is off to a good start with no major problems as of yet. Although, the U.S. dollar index is at risk of trading higher, if French presidential candidate Marine Le Pen has a strong showing in Sunday’s election. Weekly export sales for wheat came in at 20.3 mb (551,200 mt) with 15.2 mb (414,000 mt) for the 2016-2017 marketing year. Export sales for corn came in at 33.4 mb (848,200 mt) with 29.8mb (756,400) for the 2016-2017 marketing year. Soybeans were bullish showing a total of 8.3 mb (225,000 mt) with 7.8 mb (211,000 mt) for the 2016-2017 marketing year. Weekly export sales for grain sorghum showed a total of 1.8 mb (46,900 mt) for the 2016-2017 marketing year. Wheat was mostly 10 to 27 cents lower. Yellow corn was 8 to 13 cents lower. Sorghum was 23 cents lower. Soybeans were mostly 3 to 8 cents lower.
Kansas City Corn: 3.39...-0.01
Kansas City Soybeans: 9.24...+0.04
Kansas City Wheat: 3.624...+0.02
May Corn Futures: 3.5700...-0.0075
May Soybean Futures: 9.5100...+0.0425
May Wheat Futures: 4.0500...-0.0125
Nearby Crude Oil Futures Contract: 49.62...-0.65
Dow Jones Industrial Average: 20,547.76...-30.95
U.S. Dollar Index: 99.91...+0.11
Feeder & Stocker Cattle Summary
Compared to last
week, feeder steers and heifers sold 2.00 to 6.00 higher, with steer and
heifer calves being mostly 3.00 to 8.00 higher and instances up to 10.00
to 12.00 higher. Two weeks ago when there was a lull in the market,
order buyers were bargain hunting as feedyards weren't too interested in
placements at that time. However, this week most feedyards upped
their bids and those same order buyers can't purchase them fast enough
to satisfy their customers. Rain over the weekend in Oklahoma and
the Easter holiday has
Feeder numbers in the Northern Plains are tightening up very quickly so anyone that wanted to purchase had to pounce quickly on the cattle offered for sale. Moisture levels in most grazing areas seem to be alright for this time of year and ranchers do not want a repeat of the Southern Plains horrendous wildfires that happened just a short month or so ago. Demand was good to very good on all classes of feeders this week after fed cattle gained 4.00 and live sales in the Southern Plains reported up to 132.00 on Wednesday. Packers were insistent on meeting their procurement needs and were willing to pay up sharply to get business done. Several weeks ago, packers were purchasing cattle 15-30 days out front and now they are giving the appearance that those cattle have been worked through and are chomping at the bit to purchase some more for May delivery. Once the end of May gets here, those June contracted cattle will start being harvested if buyer and seller agree to terms.
Steer dressed weights have decreased dramatically since the first of the year, 53 lbs lower than w/e January 7 and the typical 5 year average decrease is around 23 lbs. Given the winter weather has been rather mild through Nebraska this year, the more exceptional gaining calf-feds are being marketed at a lighter weight than normal and are probably a little greener as well. The estimated steer and heifer grading report for the first week of April shows that percent Choice is slightly higher 2016, however the Choice-Select spread is just the exact opposite of traditional thinking. This year the spread is about 2.50 more than last year, signaling that packers may need some more Select product to get into the pipeline. Several of thecalf-feds being harvested now were bought last fall and first cost would've been around $800 per head. If the top end of those calf-feds are coming out of the feedyard now, cattle feeders are basically doubling the value of the animal in six to seven months.
Feed costs have been relatively flat throughout their feeding period and that feeder calf feeder will turn a sizeable profit in one turn. Feeder cattle continue to bring handsome prices at auctions this week. On Wednesday at Green City Livestock in Green City, MO a load of 780 lb steers sold at 156.75. Today at Lexington Livestock Market in Lexington, NE two and a half loads of one iron branded steers weighing 809 lbs brought 152.25 and a load of 824 lbs black and red white face steers sold at 152.75. Corn plantings so far are 6 percent behind a year ago but only 3 percent behind the 5 year average.
Livestock Auction - Apache OK...
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Livestock Auction - Pratt KS...
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Spring Livestock Auction -Siloam Spring AR...
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Angelo Cattle And Calf Auction - San Angelo TX...
Livestock Auction - Ava MO...
Livestock Auction - Ozark AR...
Livestock Auction - Greensboro GA...
Livestock Auction - Senatobia MS...
WA Livestock Auction - Toppenish WA...
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Cambria Livestock Auction -New Cambria MO...
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Although all information
is from sources believed to be accurate & timely,