Daily Market Summary for July 20th...

Updated Monday thru Friday around 4:00 PM CT

See Entire Summary Below


10-Day & 60-Day Market Trendlines
Indicators of cattle/beef market strength

10-Day Market Trendline

Change from Previous Day: -0.46%
Change from 10 Days Ago: +1.23%
Change from 60 Days Ago: +6.92%​
60-Day Market Trendline

Trendlines track daily market values for the past 10 & 60 days.
Each daily value is the weighted total of the Gain/(Loss) for
12 market factors compared to the previous trading day.

 

Upcoming Sales...


 


 

Weekly Market Summary

 

Daily Market Summary for July 20th...

 

Slaughter Cattle:

So far for Friday negotiated cash trading in the Texas Panhandle has been at a standstill. In Kansas and Nebraska negotiated cash trading has been inactive on very light demand. In the Western Cornbelt cash trading has been slow on light demand. A few early dressed trades have moved at 180.00. However, not enough trades for a full market trend. Last week in the Southern Plains live cash trades moved at 111.00. For the prior week in Nebraska live cash trades were from 109.50-111.00 and dressed trades were from 173.00-175.00 on a light test. In the Western Cornbelt the last fully reported market was two weeks ago with live trades mostly at 112.00 and dressed trades ranging from 175.00-180.00.

 

Negotiated Sales:

Confirmed: 5,044    Week Ago: 3,700    Year Ago: 38,738

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,100
Weighted avg weight:        848.00
Weighted avg net price:    176.33

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with prices weakening from Wednesday to Thursday. Dressed sales were reported at 255.00 delivered. Sales are at the bottom end of last week's trading range. Buyers were indicating cattle that they bought this week were being scheduled for the first half of August delivery. 

 

Livestock Slaughter under Federal Inspection:                                  

                                 CATTLE    CALVES      HOGS            SHEEP
Friday (est               119,000     2,000        434,000          6,000
Week ago (est)       118,000     2,000        438,000          6,000
Year ago (act)         115,000      2,000        425,000         6,000
Week to date (est) 595,000   10,000     2,234,000       36,000
Last Week (est)       597,000   10,000     2,249,000       36,000
Last Year (act)         572,000     9,000      2,157,000      37,000
 
Saturday (est             40,000        0              148,000         1,000
Week ago (est)          53,000        0                26,000         0
Year ago (act)            45,000        0                47,000         0
Week to date (est) 635,000    10,000     2,382,000       37,000
Last Week (est)       650,000    10,000     2,275,000       36,000
Last Year* (act)       618,000    10,000     2,203,000       37,000
2018 YTD              17,918,00  294,000   67,189,000  1,097,000
2017 *YTD            17,384,00  274,000   65,247,000  1,065,000
Percent change           +3.1%     +7.4%        +3.0%          +3.0%

 

Boxed Beef: 

Boxed beef cutout values steady to weak on light to moderate demand and light offerings. Select and Choice rib, chuck, round, and loin cuts steady. Beef trimmings sharply higher on good demand and moderate offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:  204.17      197.00
Change from prior day:     -0.32        +0.08
Choice/Select spread:        7.17

 

Futures Summary: 

Live cattle futures saw losses of 10 to 40 cents in most contracts on Friday. Nearby was Aug up 2.5 cents on the day and 4.18% higher on the week. Feeder cattle futures were down a nickel to 77.5 cents on the day. The CME feeder cattle index was down 29 cents from the previous day at $148.02 on 7/19. Estimated FI cattle slaughter is at 635,000 head through Saturday. That is up 17,000 from the same week last year but down 15,000 head vs. last week. Wholesale boxed beef values were mixed on Friday afternoon. Choice boxes were down 32 cents to $204.17, while Select boxes were 8 cents higher at $197.00. Friday’s Cattle on Feed report showed placements 1.3% higher than last year at 1.793 million head, with marketings at 2.006 million head, up 0.85%. July cattle on feed was shown at a record for the month at 11.282 million head, up 4.26% from last year. The bi-annual Cattle Inventory report saw all cattle and calves 1% larger than last July 1 at 103.2 million head. Beef cows were up 0.9% with replacement heifers down 2.1% at 4.6 million head. Light cash trade is being picked up at $113 in NE on Friday afternoon, with $113 bids in TX.

 

CME Feeder Cattle Index: 148.02… -0.29
August Live Cattle Futures: 108.92… +0.02
October Live Cattle Futures: 110.25… -0.40
December Live Cattle Futures: 114.20… -0.22
August Feeder Cattle Futures: 153.67… -0.78
September Feeder Cattle Futures: 154.55… -0.22
November Feeder Cattle Futures: 154.77… -0.15
 
August Hog Futures: 66.45… -0.80
Nearby Crude Oil Futures Contract: 70.46… +1.00

 

National Grain Market Summary:

Compared to last week, cash bids for wheat, corn, and sorghum were mixed, while soybeans were higher.  Weather is a key factor in crop condition this time of year, but the futures market doesn't appear to be concerned with it this year as yields in recent years haven't suffered despite weather conditions.  USDA said last week's export sales and shipments of corn totaled 25.2 and 50.9 million bushels respectively, a neutral showing for the week that put total corn shipments at 1.884 billion bushels, down 3% in 2017-18 from a year ago.  Corn has seven more weeks to reach USDA's 2.400 billion bushel estimate and will probably fall short of the goal.  Last week's export sales and shipments of soybeans totaled 9.3 and 22.2 million bushels respectively, a neutral combination that shows soybeans struggling to keep up with USDA's new export estimate of 2.085 billion bushels.  Last week's export sales and shipments of wheat totaled 11.0 and 16.0 million bushels respectively, more than last week's amounts, but still a long way below USDA's expectations for 2018-19. Wheat was mixed from 23 cents lower to 23 1/4 cents higher.  Corn was mixed from 11 1/2 cents lower to 10 1/2 cents higher.  Sorghum was mixed from 23 cents lower to 10 cents higher.  Soybeans were 6 1/4 to 17 1/4 cents higher.

 

September Corn Futures: 3.5525… +0.0400
August Soybean Futures: 8.4975… +0.0375
September Wheat Futures: 5.1600… +0.1175
Kansas City Corn: 3.60… +0.01
Kansas City Soybeans: 8.48… +0.04
Kansas City Wheat: 5.39… +0.12

 

Financial Markets: 

Dow Jones Industrial Average: 25,057.99… -6.51
S & P 500: 2,801.84… -2.71
NASDAQ: 7,820.20… -5.10
U.S. Dollar Index: 94.43… -0.72

 

National Feeder & Stocker Cattle Summary

RECEIPTS:       Auctions     Direct    Video/Internet     Total
This Week         158,300     78,700          5,400        242,400
Last Week         170,100   109,700      324,500        604,300
Last Year           121,300     67,100      234,900        423,300
 
Compared to last week, steers and heifers sold uneven; from 3.00 lower to 2.00 higher. Demand was good on moderate supply this week as the calendar is in the middle of the dog days of summer. Support in the cattle complex was evident this week with the sharply higher futures on Wednesday. The front four months of feeder cattle futures gained 2.95 to 3.48 on the week as the August and September contracts are at similar levels last seen in early March. August Live Cattle is trying to get some divergence and get closer to the October contract price and made a move of roughly 1.50 in the October's direction this week. It appears the packers look to be short bought leading to anticipation of a higher fed cattle market this week after their procurement last week only tallied 55K nationwide last week. As of Friday afternoon, major trading has not been established yet, however market participants are expecting higher prices as packers replenish much needed inventory as cattle slaughter totaled 635K this week and 650K last week. Feeder cattle receipts typically are reduced this time of year, however the auction volumes on this report are 37K head above a year ago for this week and 20K for last week's similar comparison.
 
Fed Cattle Slaughter for the month of June is 0.6 percent above a year ago and 6.9 percent above the previous five year average. Additionally, total cow slaughter is 2.3 percent above a year ago and 12.1 percent above the previous five year average. Carcass weights for week ending July 7 were reported at 867 lbs for steers; 1 lb higher than a year ago but 2 lbs below the 5 year average. Carcass weights being reported in line with historical numbers bodes well for the industry as it indicates that front-end supplies have been marketed aggressively by feedyard managers. In that respect, they have been in the process of forward thinking for several months now by utilizing out-front sales to manage risk.

 

Friday's Cattle on Feed report was neutral this month as on feed reported at 104 percent of a year ago; placements and marketings at 101 percent respectively. The On Feed number of 11,282,000 head is the largest July 1 number since the data series began in 1996. The semi-annual Cattle Inventory was also released on Friday and reported a total herd inventory of 103,200,000 head; 101 percent of a year ago. The 2018 calf crop was estimated this year at 36,500,000; 102 percent of a year ago. Boxed-beef prices seemed to have found support at current levels. Compared to last Friday, Choice closed the week 0.03 higher at 204.17 and Select closed 0.63 higher at 197.00, putting the Choice-Select spread at 7.17. Auction volume this week included 50 percent weighing over 600 lbs and 43 percent heifers.

 

Thursday Auction Reports...

 
Tulia Livestock Auction - Tulia TX...
Receipts:  1218    Last Week:  1755    Year Ago:  1699
Compared to last week:  Feeder steers and heifers sold steady to 1.00 higher.  Trade activity was moderate on good demand.  Triple digit temperatures returned to the area for the week.  Slaughter cows and bulls sold 2.00 to 3.00 lower.
 
Ava Livestock Auction - Ava MO...
Receipts:  1727    Last Week:  1739    Year Ago:  791
Compared to last week, steer and heifer calves steady, no recent good test of yearlings for a price comparison, undertone higher.  Slaughter cows steady to 1.00 higher, slaughter bulls steady.  Demand good for weaned calves and yearlings, moderate at best for un-weaned calves, supply heavy.
 
Columbia Livestock Auction - Columbia TN...
Receipts: 193     Last week: 286     Last year: 271
Compared to the same sale last week, Slaughter cows steady. Bulls steady to 1.00 lower. Feeders steady. Feeders: 138     Slaughter: 54     Replacements: 1 Slaughter cows made up 24 percent of the offering, slaughter bulls 8 percent, replacement cows 1 percent, and feeders 66 percent.
 
Apache Livestock Auction - Apache OK...
Receipts:  1634    Last Week:  1803    Year Ago:  1148
Compared to last week: Feeder steers and steer calves not enough comparable cattle for a market test. Feeder heifers 3.00 higher.  Heifer calves steady to 4.00 higher. Quality good to attractive with moderate demand due to excessive heat indexes. Supply included 42 percent over 600 lbs and 58 percent heifers.
 
Woodward Wtd Avg Cattle - Woodward OK...
Receipts:  4,404    Last Week:  4,113    Year Ago: 3532
Compared to last week:  Feeder steers and heifers are trading trading mostly steady to 3.00 higher.  Steer and heifer calves lightly tested on limited comparable receipts.  Demand good, trade active.  Quality average to attractive.  Supply includes 81 percent over 600 lbs and 47 percent heifers.
 
Cattleman's Livestock Auction - Dalhart, TX...
Cattle and Calves: 1125      Last Week: 1591     Year Ago:  1399
Compared to last week:  Steer and heifer calves under 600 lbs firm in a light test.  Feeder steers and heifers over 600 lbs firm to 3.00 higher.  Weather pattern in the trade area has brought triple digit heat for several days and predicted into next week.  Slaughter cows and bulls 3.00-5.00 lower.
 
Smithfield Livestock Auction - Smithfield NC...
Receipts:  521           Last Week:  648       Last Year: 325
Compared to last week, slaughter cattle were 1.00 to 3.00 lower.  Feeder calves 200-300 pounds were 6.00 to 10.00 higher with 400-600 pound heifers 2.00 to 6.00 higher; 400-600 steers and bulls steady to 3.00 lower. Moderate demand, buyer activity and offerings.  Quality of cattle average.
 
Cullman Stockyard - Cullman AL...
Receipts:  821    Last Week:  952    Year Ago:  887
Compared to a week ago: Slaughter cows and bulls sold steady. Feeder bulls and steers sold 3.00 to 5.00 higher. Feeder heifers sold 4.00 to 6.00 lower. Replacement cows and pairs sold steady. Slaughter cows 4 percent, slaughter bulls 1 percent, replacement cows and pairs 7 percent, and feeders 88 percent.
 
Greensboro Livestock Auction - Greensboro GA...
Receipts:  238    Last Week:  316    Year Ago:  363
Compared to one week earlier, slaughter cows steady, slaughter bulls 4.00 to 5.00 lower, feeder steers lightly tested, feeder bulls lightly tested, feeder heifers lightly tested, steer calves lightly tested, bull calves lightly tested, heifer calves lightly tested, replacement cows lightly tested.
 
Pratt Livestock Auction - Pratt KS...
Receipts:  2056    Last Week:  2462    Year Ago:  2285
** Close***  Compared to last week:  Feeder steers were mixed, with steers under 900 lbs steady to 2.00 lower, due to weight and condition; steers over 900 lbs were mostly 4.00 to 5.00 higher. Feeder heifers over 700 lbs mostly steady to 1.00 higher.
 
Senatobia Livestock Auction - Senatobia MS...
Receipts     This week    437       Last Week    156
Compared to last week slaughter cows trended steady to 2.00 higher. Slaughter bulls trended 1.00 to 2.00 Lower. Feeder steers trended Steady to 6.00 higher.  Feeder heifers trended Steady. Feeder consisted of 58 percent steers and 42 percent heifers. Receipts weighing under 600 lbs 55 percent over 600 lbs 19 percent.
 
Toppenish, WA Livestock Auction - Toppenish WA...
Receipts:  1435    Last Week:  1520    Year Ago:  1840
Compared to last Thursday at the same market, stocker and feeder cattle 4.00-5.00 higher. Quality of cattle offered this week more attractive than in recent weeks. Trade very active with very good demand for load lots. Slaughter cows and bulls steady. Trade active with good demand.
 
Stoney Pike Livestock Auction - Logansport IN…
Receipts:  264    Last Week:  188    Year Ago:  169
Compared to last week; slaughter steers and heifers were steady to 2.00 higher with active buyer participation. Slaughter cows were 3.00 to 5.00 lower with slaughter bulls 3.00 lower. A good offering of Holstein steers today that were mostly steady. Feeder cattle were too few to trend, but a lower undertone was noted.
 
Bluegrass Stockyards South - Stanford KY…
Receipts:  2440    Last Week:  1978    Year Ago:  1021
Compared to last Thursday:Feeder steers and heifers 2.00-4.00 higher,Good demand for feeder classes.Very good demand for yearling cattle.In the majority of instances weaned and vaccinated offerings bringing a premium are noted below as VALUE ADDED,while exceptional
quality offerings are noted as FANCY.
 
Paris Stockyards - Pairs KY…
Receipts:  2182    Last week:  1346    Last year:  897  Internet receipts: 490
Internet sales results are at the end of this report. Compared to last week: Feeder steers sold 2.00-400 higher with most increase on cattle over 600 lbs. Heifers 1.00-3.00 higher, 400-600 lbs 4.00-5.00 higher higher. slaughter cows mostly steady, some sharply higher, bulls steady.
 
Clovis Livestock Auction - Clovis NM…
Receipts:  2112       Week Ago:  2049        Year Ago:  1142
Compared to last week: Feeder steers mostly 4.00-5.00 higher, instances 8.00 higher on 600-650 lbs.  Heifers under 600 lbs steady to 3.00 higher on 500-550 lbs over 600 lbs 3.00-4.00 higher, instances 8.00 higher on 600-650 lbs.  Slaughter cows 3.00 lower; bulls 1.00 lower.  Trade moderate to active, demand moderate to good.
 
San Angelo Cattle Auction - San Angelo TX…
Receipts:  1159    Last Week:  1103    Year Ago:  792
Compared to last week steer and heifer calves and yearlings 1.00-3.00 lower.  Slaughter cows and bulls 3.00 lower.  Stock cows and pairs weak to slightly lower.  Trading and demand moderate.  Quality average to plain.
 
Fairview Sale Barn FC - Fairview IL…
Receipts:  563        Year Ago:  380
Special unresricted feeder cattle sale of which most had recieved one to three rounds of shots and were weaned saw active trade with good demand. Steers comprised 59 percent of the run; heifers 38 percent; and bulls 3 percent.