Daily Market Summary for Friday, January 20th:
Slaughter Cattle: Friday negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market was on Thursday with live sales in the Texas Panhandle from 122.00-123.00. In Kansas and Colorado live sales sold at 122.00. In Nebraska, live sales sold from 121.00-122.50, bulk at 122.00 with dressed sales at 195.00. In the Western Cornbelt on Thursday, live sales sold 120.00-122.00 with dressed at 195.00.
Negotiated Sales: Confirmed: 2,336 Week Ago: 3,594 Year Ago: 858
Prices - Slaughter Steers & Heifers:
Live Basis Steers Heifers
Trade inactive on light demand in all feeding regions
Net - Dressed
Head count priced today: 11,200
Weighted avg weight: 879
Weighted avg net price: 188.21
Alberta Beef Producers Daily Report: Alberta direct cattle sales so far this week have seen light trade develop with dressed sales marked at 268.00 delivered, initial sales are steady to 2.00 lower than the previous week. Live sales have been reported in the low 160's and are fully steady with last week's weighted average price. Buyers were indicating cattle that they bought this week would be lifted in 1-3 weeks.
under Federal Inspection:
Cattle Calves Hogs Sheep
Friday (est) 112,000 2,000 417,000 7,000
Week ago (est) 114,000 2,000 422,000 7,000
Year ago (act) 108,000 2,000 420,000 6,000
Week to date (est) 521,000 10,000 2,042,000 38,000
Last Week (est) 578,000 10,000 2,150,000 39,000
Last Year (act) 552,000 10,000 2,105,000 35,000
Week ago (est) 31,000 0 245,000 0
Year ago (act) 24,000 0 200,000 0
Week to date (est) 569,000 10,000 2,324,000 38,000
Last Week (est) 609,000 10,000 2,395,000 39,000
Last Year* (act) 575,000 10,000 2,305,000 35,000
2017 YTD 1,721,000 30,000 6,806,000 112,000
2016 *YTD 1,748,000 31,000 7,350,000 110,000
Percent change -1.6% -4.2% -7.4% 1.8%
Boxed Beef: Boxed beef cutout values lower on light to moderate demand and light offerings. Select and Choice rib, round, and chuck cuts steady to weak. Choice loin cuts weak while Select firm. Beef trimmings unevenly steady on light demand and offerings.
Current Cutout Values: 190.42 186.64
Change from prior day: -1.18 -0.85
Choice/Select spread: 3.78
Cattle Futures Summary: Live cattle futures closed moderately lower in the nearby contracts and mixed in the deferreds today. The front contracts closed well off their lows posted earlier today. The February contract closed $1.72 1/2 higher on the week. Feeder cattle futures rallied off earlier lows and closed more than $1.00 higher in the front two contracts. Weakness in wholesale prices raises the risk a near-term cash high has been posted, as retail buying has eased as it normally does at midmonth.
February Live Cattle Futures: 120.25...-0.77
April Live Cattle Futures: 119.87...-0.90
June Live Cattle Futures: 108.70...-0.47
January Feeder Cattle Futures: 133.10...+1.15
March Feeder Cattle Futures: 131.27...+1.12
April Feeder Cattle Futures: 130.10...+0.63
Feeder Cattle Index: 133.28...+1.03
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February Lean Hog Futures: 65.30...-0.12
National Grain Market Summary: Compared to last week, grain and soybean were higher with wheat trading lower. Soybeans were the leader of the board finding support from heavy rain and flooding in Argentina. Additional sources of support came from a weaker U.S. dollar and stronger outside markets. However, concerns over future global trade added some market pressure. The NOPA crush report came out this week listing soybean crush for the month of December at 160.2 million bushels. Wheat was mostly 2-29 cents lower. Corn was 8-13 cents higher. Sorghum was 14 cents higher. Soybeans were 23-28 cents higher.
Kansas City Corn: 3.51...+0.03
Kansas City Soybeans: 10.15...-0.03
Kansas City Wheat: 3.78...+0.01
Corn Futures Summary: Corn futures posted gains of 2 1/4 to 3 1/2 cents through the December contract, which was on the daily and weekly highs. For the week, March corn futures pushed above last fall's high and ended 11 1/4 cents higher. Bulls carry momentum into next week after the breakout above the October highs. That could encourage traders to cover more short positions and potentially add long positions.
March Corn Futures: 3.6975...+0.0350
Soybean Futures Summary: Soybean futures ended the day marginally to 2 3/4 cents lower today on profit-taking but avoided doing any technical chart damage. March soybeans posted a weekly gain of 21 1/2 cents and November soybeans gained 10 3/4 cents. Late-week profit-taking signals the potential for more of the same heading into next week, but a lot will depend on traders' focus.
March Soybean Futures: 10.6750...-0.0275
Wheat Futures Summary: Winter wheat futures saw a boost from the corn market today, with SRW up 2 1/4 to 4 3/4 cents and HRW steady to 3/4 cent higher. Spring wheat ended the day mostly around 2 to 3 cents lower, with the front-month down 8 cents. For the week, March SRW ended with gains of 2 1/4 cent, March HRW posted a week loss of 5 1/4 cent and March HRS ended with a weekly loss of 14 1/2 cents.
March Wheat Futures: 4.2825...+0.0475
Nearby Crude Oil Futures Contract: 52.42...+1.05
Dow Jones Industrial Average: 19,827.18...+94.78
U.S. Dollar Index: 100.87...-0.26
Feeder & Stocker Cattle Summary
RECEIPTS: Auctions Direct Video/Internet Total
This Week 248,400 60,200 83,400 392,000
Last Week 367,500 53,400 78,800 499,700
Last Year 223,800 45,200 62,200 331,200
Compared to last week, steer and heifer calves suitable for summer turnout sold steady to 5.00 higher in the Plains, while those were steady to 3.00 lower in the Southeast. Steers and heifers over 600 lbs were steady to 3.00 higher. Demand was reported to be good to very good in many locations nationwide this week in spite of trying weather and conditions through the center part of the country. Cancellations of regular scheduled sales or severely curtailed receipts were common place in early week action in the Southern and Northern Plains if ice had accumulated any at all.
Order buyers got back in the saddle mid to late week and paid up with higher prices in a vast majority of auctions. On Wednesday in Bassett, NE a load of 810 lb steers with all the bells and whistles sold for 141.25 while a load of 630 lb replacement quality heifers rung the bell at 150.00. Optimism was prevalent this week again as fed cattle continue to surge in the post holiday trading weeks. This week, fed cattle rose another 3.00 to 4.00 as live trading transpired at 122.00 to 123.00 and dressed sales were 5.00 higher at 195.00. A pattern has come to light the past couple weeks that after fed cattle trade occurs, there is a sell off on the CME Board. Market participants are protecting their positions to take advantage of this recent run-up in the market since Thanksgiving. Along with the handsome prices paid to producers, packers took on some inventory again as over 100K was sold in the 5 Area again this week. Since the week before Christmas, live sales have gained 7.00 and dressed sales have increased 15.00.
During that same time frame, Choice Boxed beef has risen from around 197.00 to over 203.00 between the Holidays to close at 190.42 today. January to December 2016 commercial red meat production was 50.4 billion pounds, up 4 percent from 2015. Accumulated beef production was up 6 percent from last year and pork was up 2 percent from last year. For CY2016, average steer weight was reported at 891 lbs, down 1 lb from a year ago; while the average yearly heifer weight is reported at 822 lbs, up 4 pounds from the previous year. This would suggest that feedlots are keeping their marketings current at the present time and if packers continue to put more dollars in the pocket of the producers, they will continue to push cattle through the pipeline. After Monday's very short cattle harvest of 69,000 head, packers still harvested 569K for the week. Had it not been for ice in the Plains on Sunday and Monday, there would be no doubt that harvest would've been over 600K this week. Auction volume this week included 54 percent weighing over 600 lbs and 41 percent heifers.
"Click" on individual auction links for complete report
*Denotes Auction not reported by the USDA & linked to Auction's website
Livestock Auction - Apache OK...
Receipts: 1250 Last Week: 2932 Year Ago: 1675
Compared to last week: Feeder steers steady to 2.00 higher. Feeder heifers 3.00-5.00 higher. Steer calves 6.00-7.00 higher. Heifer calves 10.00-15.00 higher. Demand much improved with several inches of rain across the area. Supply included 68 percent over 600 lbs and 48 percent heifers.
Livestock Auction - Dalhart, TX...
Cattle and Calves: 1,714 Last Week: 2,283 Year Ago: 1,895
Compared to last week: Feeder steers and steer calves firm, except 400-550 lb calves 2.00-4.00 higher. Feeder heifers and heifer calves steady to weak in a light test, except 600-700 lb heifers firm to 2.00 higher. Slaughter cows 1.00-2.00 higher. Slaughter bulls not well tested. Trade and demand moderate to good.
Livestock Auction - Tulia TX...
Receipts: 939 Last Week: 3350 Year Ago: 1881
Compared to last week: Feeder steers and heifers sold mostly steady. Trade was moderately active on good demand.
Livestock Auction - Pratt KS...
Receipts: 1834 Last Week: 2912 Year Ago: 5990
Compared to last week: Feeder Steers 600-800 lbs 2.00-4.00 higher; 850-1000 lbs 8.00-9.00 higher. Feeder Heifers 600-900 lbs firm to 4.00 higher on a light supply of Medium and Large 1. Steer and heifer calves a firm to higher undertone noted on a light test. Trade active
and demand good.
& Ranchers Livestock - Salina KS...
Receipts: 3088 Last Week: 5733 Year Ago: 805
Compared to last week: Steers 700-1050 lbs 1.00-2.00 higher; 700 lbs and under higher undertone noted. Heifers 600-850 lbs 3.00-7.00 higher; 600 lbs and under higher undertone noted.
Stockyard - Cullman AL...
Receipts: 1002 Last Week: 1397 Year Ago: 523
Compared to last week: Slaughter cows sold 1.00 to 3.00 higher, bulls sold 1.00 to 3.00 higher. Feeder bulls and steers sold 2.00 to 4.00 higher.
Livestock Auction - Columbia TN...
Cattle Receipts: 531 Last week: 389 Last year: Not reported
Compared to the same sale last week, Slaughter cows and bulls steady. Steers and bulls under 550 lbs steady to 2.00 higher, over 550 lbs steady. Heifers under 500 lbs steady to 3.00 higher, over 500 lbs steady to 5.00 lower.
Spring Livestock Auction -Siloam Spring AR...
Cattle Receipts: 1855 Last week: 1878 Last year: 409
Compared to last week: Feeder steers 3.00-10.00 higher with some of the better kind under 600lbs 12.00-15.00 higher. Feeder heifers 300-400lbs 10.00-20.00 higher over 400lbs 3.00-8.00 higher.
Stockyard - Decatur AL...
Receipts: 578 Last Week: 593 Year Ago: 171
Compared to a week ago: Slaughter cows and bulls sold steady. All feeder classes sold 2.00 to 3.00 lower.
Angelo Cattle And Calf Auction - San Angelo TX...
Total Receipts: 619 Last Week: 2087 Year Ago: 1055
Compared to last week feeder steers and heifers 1.00-3.00 higher.Slaughter cows and slaughter bulls 1.00-3.00 higher. Stock cows and pairs not well tested.
Livestock Auction - Ava MO...
Receipts: 1361 Week Ago: 1123 Year Ago: No Sale
Compared to last week, steers and heifers sold mostly steady to 3.00 higher on limited comparisons. Slaughter cows steady. Supply and demand moderate. Cows and bulls accounted for 07 percent of the total offering. The feeder supply consisted of 52 percent steers and bulls and 48 percent heifers; 46 percent of all the feeder cattle weighed over 600 lbs.
Livestock Auction - Smithfield NC...
Cattle Receipts: 627 Last week: 337 Last year: 239
Compared to last week, average dressing slaughter cows and bulls were steady, high dressing cows and bulls were 2.00-4.00 higher. Feeder steers and bulls were 4.00-8.00 lower. Heifers were steady. Demand, buyer activity and offerings were moderate. Quality was average.
WA Livestock Auction - Toppenish WA...
Receipts: 2000 Last Week: 800 Year Ago: 3200
Compared to last Thursday at the same market, not enough stocker or feeder cattle last week for accurate trends as this was the first true test of the market for 2017. Trade active with good demand and good buyer attendance.
Livestock Auction - Ozark AR...
Cattle Receipts: 560 Last week: 871 Last year: 530
Compared to last week: Feeder steers sold 3.00-8.00 higher. Feeder heifers sold 9.00-10.00 higher. Slaughter cows sold steady to 3.00 higher. Slaughter bulls sold 2.00-5.00 lower. Supply included 373 feeder calves; 85 feeder yearlings; 20 replacement cows; 66 slaughter cows and 16 slaughter bulls.
County Weekly Cattle Summary - Lancaster PA...
This Week: 2268 1641
Last Week: 2432 1546
Last Year: 2070 1768
This week in Lancaster County, the slaughter steer market continued to improve early in the week but backed off a little to end the week. The Slaughter Holstein market on the other hand found a hurdle it can't get over. When a major packer chooses to quit buying Holstein steers and no one else appears to be picking up the slack it tends to be devastating on that market. Luckily, our numbers for finished Holstein's are down at this time but the trickle down effect has reached the Holstein feeder cattle market causing a sharp drop in those prices. Feeders are questioning how low Holstein calves have to go to still make it profitable to feed them. Slaughter steers ended the week mixed from 4.00 lower to 3.00 higher. Trade was active and demand was good.
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