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Daily Market Summary for Wednesday, May 24th:

TCR's Weekly Current & Projected Feedyard Closeout

Slaughter Cattle:  Wednesday trading has been limited on light demand in all major feeding regions. Not enough purchases in any price range for a full market trend. Last week in the Texas Panhandle live purchases were at 134.00. In Kansas live trades were from 133.00-134.00. In Nebraska for the prior week saw live purchases from 135.00-135.50 and dressed from 210.00-215.00. In Colorado live trades were at 135.00. For the previous week in the Western Cornbelt live purchases were at 134.00 and dressed were from 210.00-215.00.

Negotiated Sales: Confirmed: 13,321      Week Ago: 10,047      Year Ago: 2,731

Negotiated Prices - Slaughter Steers & Heifers:
Live Basis              Steers                                       Heifers
Dressed Basis
Trade at a standstill in all major feeding regions.

Formula Purchases: Net - Dressed
Head count priced today: 14,700
Weighted avg weight:            835
Weighted avg net price:   218.62

The FCE On-Line Auction offered 2,648 total head on Wednesday with 1,333 head sold.

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. This week's showlist has been compiled with volumes smaller than the previous week. Triple digit losses are being reported in the live cattle complex this morning and strength in the Canadian dollar has taken some shine off out technical support.

Livestock Slaughter under Federal Inspection:
                                 Cattle        Calves   Hogs        Sheep
Wednesday  (est)   115,000     2,000      441,000      6,000
Week ago (est)       114,000     2,000      438,000      7,000
Year ago (act)         113,000     2,000      433,000      8,000
Week to date (est)  346,000     6,000   1,322,000    20,000
Last Week (est)      344,000     6,000   1,314,000    21,000
Last Year (act)        334,000     6,000   1,296,000    25,000

Boxed Beef:  Boxed beef cutout values firm on Choice and lower on Select on light to moderate demand and offerings. Select and Choice chuck and round cuts steady to firm while loin cuts weak to lower. Choice rib cuts higher while Select steady. Beef trimmings sharply lower on light demand and offerings.

Cutout Values...            Choice        Select
Current Cutout Values:    246.08        219.60
Change from prior day:     +0.34            -1.57
Choice/Select spread:      26.48

Cattle Futures Summary: Live cattle futures were down 95 cents to $1.40 at settlement. Feeder cattle futures were mostly $2.825 to $2.85 lower with May down 25 cents, as it expires tomorrow and needs to stick close to the Index. The CME feeder cattle index was up 13 cents on May 23, at $143.40.  Wholesale beef prices were mixed in the Wednesday afternoon report, with choice boxes up 34 cents averaging $246.08, and select down $1.57, averaging $219.60. Week to date estimated FI sl aughter is 346,000 head, up 2,000 head from the previous week and 12,000 head larger than the same week last year. The FCE auction showed cash prices decreasing $2.62 wk/wk to a weighted average price of $132.54 for 1-9 day delivery. Of the 2,684 head offered in this week’s auction, 1,333 were sold. The COF report will be released at 11:00 a.m. CST on Friday with April placements expected at 6.7-6.8% larger than last April and marketings 1.8-2.2% above the previous April. Cattle on feed for May 1 is projected to increase 0.8% over May 2016.

June Live Cattle Futures: 122.12...-0.95

August Live Cattle Futures: 119.32...-1.40

October Live Cattle Futures: 116.75...-1.30

May Feeder Cattle Futures: 144.00...-0.25

August Feeder Cattle Futures: 148.67...-2.83

Sept Feeder Cattle Futures: 148.82...-2.85

CME Feeder Cattle Index: 143.40...+0.13

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July Lean Hog Futures: 80.20...+0.05

National Grain Market Summary: Grain and soybean bids were slightly higher.  Corn and soybean bids saw support from heavy rain across the corn-belt.  There are reports that in parts of the Midwest where there was excessive rain have to replant corn.  Soybeans continue to also see some pressure from Brazil’s record harvest and expecting record soy plantings in the U.S.

Kansas City Corn: 3.61...+0.02

Kansas City Soybeans: 9.28...Unchanged

Kansas City Wheat: 3.98...+0.05

July Corn Futures: 3.7125...+0.0175

July Soybean Futures: 9.4825...Unchanged

July Wheat Futures: 4.3250...+0.0300

Nearby Crude Oil Futures Contract: 51.36...-0.11

Dow Jones Industrial Average: 21,011.49...+73.58

NASDAQ: 6,163.02...+24.31

U.S. Dollar Index: 97.10...-0.28

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          Week Ago      Year Ago
Total Receipts:       4547                3,474              4,447
Feeder Cattle: 4,547(100%)  3,474(100%)  4,447(100%)
Compared to last week, steer and heifer calves traded steady to 6.00 higher with spots 10.00 higher.  Yearling steers traded 3.00-6.00 higher with yearling heifers lightly tested.   Demand was very good on a heavy supply.

Franklin County Livestock Auction - Carnesville GA...
Receipts:  960    Last Week:  923    Year Ago:  1245
Compared to one week earlier, slaughter cows 8.00 to 10.00 higher with outstanding high dressing cows from 100.00 to 108.00, slaughter bulls 7.00 to 9.00 higher with one outstanding high dressing bull at 119.00, feeder steers and steer calves mostly steady,

Livingston County Livestock Auction - Ledbetter KY...
Receipts: 815        Last Week: 383         Last Year: 623
Compared to last week: Feeder steers and heifers traded steady to 5.00 higher. Slaughter cows and bulls mostly steady. Strong farmer participation on stock cows and calves with over 100 pairs selling.

Chester Livestock Auction - Chester SC...
Receipts:  220          Last week:  189         Last year:  247
No trend available this week due to limited comparable sales. Light offerings of average quality cattle due to heavy rain in the area with active buyer participation.

Dickson Livestock Auction - Dickson TN...
Receipts:  727       Last week: 715        Last year: 700
Compared to same sale last week, Slaughter cows 3.00 higher. Bulls 2.00 lower. Steers and bulls mostly steady. Heifers steady to 2.00 higher. Feeders: 641  Slaughter: 43  Replacements: 43 Slaughter cows made up 10 percent of the offering, slaughter bulls 1 percent, and feeders 89 percent.

Oklahoma City Cow and Bulls - Oklahoma City OK...
Receipts:  660       Last Week:  667      Last Year:  594 Receipts Monday:  5,681
Compared to last week:  Slaughter cows steady to 2.00 higher.  Slaughter bulls steady to 1.00 higher.  Packer demand good.  A total of 332 cows and bulls sold with 60 percent going to packers.

Tulsa Livestock Auction - Tulsa Oklahoma...
Receipts:  1723    Last Week:  2959    Year Ago:  2666
Compared to last week:  Steers 5.00-7.00 lower.  Heifers 4.00-6.00 lower. Demand good.  Quality good.  Supply includes 17 percent over 600 lbs. and 43 percent heifers. Slaughter cows 2.00 higher.  Slaughter bulls 3.00 higher.  A total of 241 cows and bulls sold with 63 percent going to packers.

Chesnee Livestock Auction - Chesnee SC...
Receipts:  239          Last week: 303          Last year: 384
No trend available this week due to limited comparable sales. Light offerings of average quality cattle due to heavy rain in the area with active buyer participation.

Bowling Green Livestock Auction - Bowling Green KY...
Receipts:  859          Last week: 391         Last year: 308
Compared last week: Feeders steers and heifers 2.00-5.00 higher. Slaughter cows 3.00 higher. Slaughter bulls firm. 115 replacement cattle, 106 slaughter cattle, 641 feeder cattle. Slaughter cows made up 11 percent of the offering, slaughter bulls 1 percent, replacement cows 9 percent, other cows 1 percent,

Brookhaven Livestock Auction - Brookhaven MS...
Receipts     This week    191       Last Week    137
Compared to last week slaughter cows trended Steady. Slaughter bulls trended 3.00 to 5.00 Higher. Feeder steers trended Steady. Feeder heifers trended Steady. Feeder consisted of 72 percent steers and 28 percent heifers. Receipts weighing under 600 lbs 37 percent over 600 lbs 11 percent.

Tylertown Livestock Auction - Tylertown MS...
Receipts     This week    501       Last Week    960
Compared to last week slaughter cows trended Steady. Slaughter bulls trended Steady. Feeder steers trended 2.00 to 4.00 Higher. Feeder heifers trended 4.00 to 6.00 Higher. Feeder consisted of 53 percent steers and 47 percent heifers.

Dixie Livestock Auction - Thomasville GA...
Receipts:  875    Last Week:  1241    Year Ago:  710
Compared to one week earlier, slaughter cows and bulls mostly steady, feeders steers lightly tested, feeder heifers and bulls mostly steady, steer calves mostly steady, heifer calves unevenly steady, bull calves steady to 2.00 higher, replacement cows mostly steady.

Updated daily Monday thru Friday around 4:00 PM CST

Additional reports at "Market Reports" & "Auction Results"

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