Daily Market Summary for May 21st...

Updated Monday thru Friday around 4:00 PM CST

See Entire Summary Below


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

10-Day Market Trendline

Change from Previous Day: +1.02%
Change from 10 Days Ago: -4.10%
Change from 60 Days Ago: -3.70%
60-Day Market Trendline

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

 

Upcoming Sales...


 


 

Weekly Market Summary

 

Daily Market Summary for May 21st...

 

Slaughter Cattle:

So far for Monday trading has been at a standstill. Last week in the Texas Panhandle live trades were from 115.00-116.00. In Kansas live trades moved from 114.00-117.00. For the prior week in Nebraska live trades were from 112.00-115.00 and dressed trades moved from 180.00-185.00. In Colorado live trades were from 112.00-113.00. For the previous week in the Western Cornbelt live trades ranged from 112.00-122.00 and dressed trades, on a light test, were mostly at 184.00.

 

Negotiated Sales:

Confirmed: none    Week Ago: 2,993    Year Ago: 214

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 45,400
Weighted avg weight:       822.00
Weighted avg net price:    196.64

 

Alberta Beef Producers Daily Report:

N/A – Victoria’s Day Holiday

 

Livestock Slaughter under Federal Inspection:

                                 CATTLE      CALVES    HOGS      SHEEP
Monday (est           120,000    2,000     457,000     8,000
Week ago (est)       117,000    2,000     459,000     7,000
Year ago (act)         116,000    2,000     440,000     8,000

 

Boxed Beef: 

Boxed beef cutout values lower on light to moderate demand and moderate offerings. Select and Choice chuck, round, and loin cuts steady to weak. Choice rib cuts lower while Select steady. Beef trimmings sharply lower on light demand and moderate offerings.
 
Cutout Values...            Choice       Select
Current Cutout Values:  230.82       207.52
Change from prior day:    (1.39)         (0.94)
Choice/Select spread:      23.30

 

Futures Summary: 

Live cattle futures ended the Monday session with most contracts $1.775 to $2.525 higher, as June and Aug hit limit up. Feeder cattle futures were up $1.525 to $2.875. Traders were speculating that China would buy more US beef as part of their effort to address the bilateral trade deficit. The CME feeder cattle index was down 3 cents on May 18 at $133.63. Wholesale boxed beef values were lower on Monday afternoon. Choice boxes were down $1.39 at $230.82, with Select boxes 94 cents lower at $207.52. FI cattle slaughter was estimated at 120,000 head on Monday. That is 3,000 head above last week and 4,000 head larger than this time last year.

 

CME Feeder Cattle Index: 133.63… +0.05
June Live Cattle Futures: 104.92… +2.52
August Live Cattle Futures: 100.62… +2.40
October Live Cattle Futures: 103.72… +2.02
May Feeder Cattle Futures: 133.92… +1.70
August Feeder Cattle Futures: 140.50… +2.88
September Feeder Cattle Futures: 140.68… +2.88
June Hog Futures: 74.00… (0.70)

 

National Grain Market Summary:

Compared to Friday, cash bids for corn and wheat were mixed, soybeans were higher, while sorghum was not quoted today.  U.S. Treasury Secretary Mnuchin told CNBC that both China and the U.S. have agreed to suspend tariffs while progress is being made on trade disputes -- bullish news for soybean traders' ears.  In corn, with fundamental support from crop concerns in Brazil, the trends remain up in both July corn and new-crop corn.  In wheat, it remains difficult for the U.S. to compete with plentiful supplies of global wheat, but the trends remain higher for the July contracts.

 

July Corn Futures: 4.0225… +0.0025
July Soybean Futures: 10.2525… +0.2675
July Wheat Futures: 5.0725… (0.1100)
Kansas City Corn: 3.92… Unchanged
Kansas City Soybeans: 10.13… +0.27
Kansas City Wheat: 5.17… (0.12)
 
Nearby Crude Oil Futures Contract: 72.24… +0.96
Dow Jones Industrial Average: 25,013.16… +298.07
NASDAQ: 7,394.04… +39.70
U.S. Dollar Index: 93.84… +0.12

 

Monday Mid-Session Reports...

 
Oklahoma National Stockyards - Oklahoma City OK...
Receipts           Week Ago             Year Ago
 9,300                 10,078                     5,316
** Mid-Session ** Compared to last week:  Feeder steers and heifers mostly steady to 2.00 lower.  Steer and heifer calves are trading with a much lower undertone on limited offerings.
 
Joplin Regional Stockyards Feeder Cattle Auction - Carthage MO...
Receipts           Week Ago             Year Ago
 5,500                  5,189                     6,023
**OPENING** Compared to last week, steer and heifer calves 1.00 to 3.00 lower,  yearlings not well tested early, undertone lower.  Demand moderate to light, supply moderate.
 

Friday Auction Reports...

 

Torrington Livestock Commission - Torrington WY...
Receipts: 2109     Week Ago: 900    Year Ago:  1451
Compared to a week ago, Slaughter and feeding cows traded steady to 1.00 higher on comparable trades.  Slaughter bulls also trading steady to 1.00 lower.  Slaughter and feeder cows consisted of 40 percent of the sale with 20 percent slaughter bulls.
 
Apache Wtd Avg Cattle (Fri) - Apache OK...
Receipts:  1432    Last Week:  2777    Year Ago:  2086
Compared to last week:  Feeder steers and heifers 1.00-3.00 lower.  Steer and heifer calves steady to 3.00 lower on limited comparable weights. Quality good to attractive with moderate demand.
 
Smith County Commission - Carthage TN...
Receipts:  873      Last week: 1197      Last year: 944
Compared to same sale last week, Slaughter cows steady to 1.00 lower. Bulls steady. Feeder steers and bulls 5.00 to 11.00 lower, instances 14.00 lower. Heifers steady to 6.00 lower.
 
Farmers Livestock Auction - Springdale AR...
Receipts:  453          Last week:  537             Last year:  712
Compared to last week: Feeders mostly 2.00-10.00 lower with some bulls and plain heifers 15.00 lower. Slaughter cows and bulls steady to 2.00 higher. Supply included about 335 feeder calves, 49 feeder yearlings, 20 replacement cows, 40 slaughter cows, and 9 slaughter bulls.
 
Bowling Green Livestock Auction - Bowling Green MO...
Receipts:  1474    Week Ago:  1913    Year Ago:  1379
 Friday's auction was a Special Bred Cow/Pairs sale with one large consignment of 110 bred heifers black and Red Angus with about half AI bred to calf in the fall from the Deer Creek Cattle CO. along with another large consignment of over 110 head of young black bred cows 3-6 yrs to calf in the fall all selling with moderate to good demand.
 
Ash Flat Livestock Auction - Ash Flat AR...
Receipts:  896    Last Week:  1002    Year Ago:  832
Compared to last week:  Feeder steers and bulls sold 5.00-10.00 lower, instances 15.00 lower on calves weighing less than 500 lbs.  Feeder heifers sold 5.00-7.50 lower, instances 10.00 lower.  Slaughter cows and bulls steady to 2.00 lower.  Fleshy denotes unweaned, milk fat calves.
 
Ft. Pierre Livestock Wtd Avg Report - Ft. Pierre SD...
Receipts:  5698    Two Weeks ago:  6446    Year Ago:  3587
Compared to two weeks ago: Feeder steers sold on a steady to lower undertone with a limited comparison. Feeder heifers weighing 650to 800 lbs. sold from 6.00 to 8.00 lower, instances 10.00 lower.