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Daily Market Summary for June 21st

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: -1.09%
Change from 10 Days Ago: -4.32%
Change from 60 Days Ago: -17.11%​
   

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.

 

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Weekly Market Summary

 

Daily Market Summary for June 21st

 

Slaughter Cattle:  

As of 3:00 PM Friday, trade has been mostly inactive on light to moderate demand in all feeding regions. Not enough purchases in any feeding regions of and adequate market test. The latest established market in any feeding region was on Thursday with live purchases in the Texas Panhandle from 108.00-110.00. In Kansas on Thursday, live purchases traded from 108.00-110.00, bulk at 110.00. On Thursday in Nebraska, live purchases traded from 109.00-110.00, bulk at 110.00. Dressed purchases from 180.00-183.00, bulk at 180.00. On Thursday in the Western Cornbelt a few live purchases traded mostly from 113.00-114.00 with dressed purchases from 178.00-180.00.

    

Negotiated Sales:

Confirmed: 6,080 --- Week Ago: 22,928 --- Year Ago: 29,323

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,800
Weighted avg weight:             829
Weighted avg net price:    180.36

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales so far this week have seen light trade develop with most of the dressed sales reported from 245.00-246.00 delivered. Sales are steady to a couple dollars higher than last week. Stronger prices were over week and stronger basis levels did encourage producers to market cattle. Packers were indicating cattle that they bought this week would not be lifted until the 2nd and 3rd week in July. US buying interest was noted but bids were well off the pace from getting cattle bought.    

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs          Sheep
Friday (est               118,000      2,000       462,000       7,000
Week ago (est)       118,000      2,000        467,000      7,000
Year ago (act)         118,000      3,000        423,000      6,000
Week to date (est)  600,000   10,000     2,363,000     40,000
Last Week (est)       603,000   10,000     2,364,000    39,000
Last Year (act)         590,000     9,000      2,163,000    35,000
Saturday (est             62,000        0                86,000         0
Week ago (est)          62,000        0                67,000         0
Year ago (act)            68,000        0                   0           1,000
Week to date (est)   662,000   10,000     2,449,000    40,000
Last Week (est)        665,000   10,000     2,431,000     39,000
Last Year* (act)        658,000   10,000      2,164,000    35,000
2019 YTD             15,586,000  264,000  60,069,000   988,000
2018 *YTD           15,414,000  253,000  58,308,000   957,000
Percent change         +1.1%      +4.2%         +3.0%         +3.3%
Previous Day Estimated       Steers & Heifers     Cows & Bulls
                         Thursday              96,000                    25,000

 

Boxed Beef: 

Boxed beef cutout values lower on light demand and moderate offerings. Select and Choice rib and loin cuts weak to lower while round cuts steady to firm. Select and Choice chuck cuts steady to weak. Beef trimmings moderately to sharply lower on light demand and moderate offerings.
 
Cutout Values...                 Choice     Select
Current Cutout Values:     219.82    199.55
Change from prior day:        -0.90       -1.93
Choice/Select spread:          20.17
Total Load Count (Cuts, Trimmings, Grinds): 99

 

Cutter Cow Cutout: 175.22… +0.41

  

CME Feeder Cattle Index: 131.37… -1.62

 

Futures…

Live Cattle:
June: 106.55… -1.62
August: 102.22… -1.73
October: 104.15… -1.42
Feeder Cattle:
August: 133.67… -1.03
September: 134.05… -1.32
October: 134.50… -1.32
---
July Hogs: 76.25… -3.00
August Crude Oil: 57.43… +0.36
---
July Corn: 4.4225… -0.0775
July Soybeans: 9.0275… -0.1275
July Wheat: 5.2600… -0.0050
---
Grain Cash Bids:
Kansas City Corn: 4.44… -0.05
Kansas City Soybeans: 8.51… -0.13
Kansas City Wheat: 5.21… +0.02
---

Financial Markets:

Dow Jones Industrial Average: 26,719.13… -34.04
S & P 500: 2,950.46… -3.72
NASDAQ: 8,031.71… -19.53
U.S. Dollar Index: 96.21… -0.42

  

National Feeder & Stocker Cattle Summary
RECEIPTS:      Auctions      Direct    Video/Internet       Total
This Week         159,800     41,600            15,000            216,400
Last Week         134,900     52,900            49,400            237,200
Year Ago            164,000     65,800            17,000           246,800
 
Compared to last week, steers and heifers sold uneven; 3.00 lower to 2.00 higher. The CME futures exhibited support to the cash markets early this week as the Cattle Complex posted triple digit gains on Monday with follow through support on Tuesday. However, when Wednesday arrived, the foundation laid early week had eroded and the Board displayed negatives the rest of the week. Cattle feeders have approached the dog days of summer cautiously this year, with cost of gains expected to creep up with the lack of corn acres being planted nationwide this year. Flesh condition of cattle has really been attractive after the cold, wet, muddy conditions cattle have had to endure to this point. Backgrounders have historically sold cattle this time of year and probably wouldn’t hold on this long if the crystal ball would’ve predicted a much lower market for short and long yearlings.
 
Profitability in the cattle business right now has sure taken a hit and bankers are keeping an eye on the bottom line. Cow-calf producers are also cognizant of break-evens due to increased costs of just about every input you can think of. The cattle feeder selling fed cattle is facing the same battle and are keeping their eyes locked on the futures contracts looking, looking for marketing flexibility. As farmer feeders have had such a hard time getting their crops planted, many were not able to get all their acres planted, and losses realized on outgoing cattle, there has not been a sense of urgency to fill empty pens. Cattle feeders have really been struggling with selling their fed cattle as packers make lower bids early in the week and are able to get enough cattle bought to maintain their market leverage.
 
Thursday afternoon saw some trade in the Southern Plains and in the North mostly at 110.00, 2.00 lower than last week. Corn crop condition ratings showed 59 percent good to excellent and planting progress at 92 percent completed. The corn market will continue to debate acreage losses and yield effects for the late planted crop and that will keep uncertainty in the market for the rest growing season. Boxed-beef values have shown some light seasonal weakness as we start the summer, but choice box-beef is still trading around 220.00 as cash cattle prices continue to decline. For the week, the Choice cutout closed 2.41 lower at 219.82, while Select was 3.21 lower at 199.55. Cattle Slaughter under federal inspection estimated at 662K for the week, 3K less than last week and 4K more than a year ago.
 
The June 1 Cattle on Feed released today reported On Feed at 102 percent; Marketings at 101 percent and Placements at 97 percent. Much like last month, the June 1 on feed number was reported at 11.740 million head making it the largest June 1 number since the data series started in 1996. Cold Storage Report for May was released today with total red meat supplies in freezers were down 2 percent from the previous month and down 6 percent from last year. Total pounds of beef in freezers were at 403.6 million lbs, down 6 percent from the previous month and down 13 percent from last year. Frozen pork supplies were up 1 percent from the previous month and up 1 percent from last year. Bone-in Loins and Rib inventories were at all time record highs for the May report. Auction volume this week included 53 percent weighing over 600 lbs and 41 percent heifers.

 

Thursday Auction Reports...

Pratt Livestock Auction - Pratt KS
                          This Week   Last Reported   Last Year
Total Receipts:    3,690             3,549                  0
***Close*** Compared to last week: Feeder steers sold mostly steady to 3.00 lower. Feeder heifers sold 3.00 to 5.00 higher. Calves too lightly tested for an accurate market trend. Overall, demand good to very good, quality average to attractive. Slaughter cows sold steady to 1.00 higher. Bulls too lightly tested; lower undertone noted. Supply included: 95% Feeder Cattle (60% Steers, 39% Heifers, 0% Bulls); 5% Slaughter Cattle (90% Cows, 10% Bulls). Feeder cattle supply over 600 lbs was 97%.

  

Bluegrass Stockyards South - Stanford KY
                           This Week   Last Reported   Last Year
Total Receipts:     1,143              2,521                0
Compared to last Thursday: Feeder steers 3.00-5.00 higher, Feeder heifers 2.00-4.00 higher, Good demand for feeder classes. Slaughter cows 1.00-3.00 lower, Slaughter bulls 1.00-2.00 higher, Good demand fort slaughter classes. Supply included: 92% Feeder Cattle (39% Steers, 8% Dairy Steers, 46% Heifers, 8% Bulls); 8% Slaughter Cattle (86% Cows, 14% Bulls); 0% Replacement Cattle (100% Bred Cows). Feeder cattle supply over 600 lbs was 60%
  
San Angelo Cattle Auction - San Angelo TX
                           This Week   Last Reported   Last Year
Total Receipts:      944                701                   0
Compared to last week steer and heifer calves and yearlings sold unevenly; Medium and Large 1 and 1-2 sold firm, others sold weak to 3.00 lower. Slaughter cows and slaughter bulls’ firm. Stock cows and pairs firm in light test. Buyers were selective in their purchases wanting the higher quality cattle. Trading and demand moderate. Supply included: 82% Feeder Cattle (62% Steers, 32% Heifers, 6% Bulls); 8% Slaughter Cattle (89% Cows, 11% Bulls); 10% Replacement Cattle (89% Stock Cows, 7% Bred Cows, 4% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 77%.
  
Lucedale Livestock Auction - Lucedale MS
Receipts     This week    343       Last Week    253
Compared to last week slaughter cows trended 1.00 to 2.00 Lower. Slaughter bulls trended Weak. Feeder steers trended Weak. Feeder heifers trended Steady. Feeder consisted of 49 percent steers and 51 percent heifers. Receipts weighing under 600 lbs 57 percent over 600 lbs 16 percent. Total receipts were made up of 73 percent feeders, 9 percent slaughter cows and 18 percent Pairs/Replacements.
  
Norwood Livestock Auction - Norwood NC
Receipts:  713             Last Week: 826       Last Year:  520
Compared to last week, slaughter cattle were steady.  Feeder cattle were mostly 2.00 to 6.00 lower. Futures lower causing light demand with slow market activity.  Moderate offerings with quality of cattle plain to average. Slaughter cows made up 17 percent of the offering, slaughter bulls’ 2 percent, replacement cows’ 4 percent, other cows’ 1 percent, and feeders’ 76 percent.  The feeder supply included 40 percent steers, 38 percent heifers, and 22 percent bulls. Near 18 percent of the run weighed over 600 lbs.
  
Stoney Pike Livestock Auction - Logansport IN
                         This Week   Last Reported   Last Year
Total Receipts:    330                  247                   0
Compared to last week slaughter steers and heifers were 1.00 to 2.00 lower with lower packer inquiry today, but a good offering of higher quality slaughter steers and heifers. Slaughter cows were 1.00 to 2.00 higher with bulls 2.00 higher. Feeder cattle had a lower undertone with a lighter offering today. Supply included: 12% Feeder Cattle (27% Steers, 30% Heifers, 42% Bulls); 86% Slaughter Cattle (36% Steers, 27% Dairy Steers, 30% Heifers, 6% Cows, 1% Bulls); 2% Replacement Cattle (100% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 18%.
  
Mitchell Livestock Auction – Mitchell SD
                           This Week   Last Reported   Last Year
Total Receipts:     2,131              7,756                 0
Compared to last week: Lighter heifers were in short supply today. The only good comparison of heifers was 800-1000, with 800-950 steady to 3.00 higher, 950-1000 1.00-3.00 lower. Feeder steers 900-1000 sold steady to 3.00 lower. Demand was moderate for the heavy feeder cattle. Demand for lighter feeder cattle was good with a higher undertone. Next week expecting 2,000 feeder cattle. Supply included: 100% Feeder Cattle (55% Steers, 45% Heifers). Feeder cattle supply over 600 lbs was 84%.

  

Woodward Wtd Avg Cattle - Woodward OK
                          This Week   Last Reported   Last Year
Total Receipts:   5,557               7,695                 0
Compared to last week: Feeder steers steady to lower. Feeder heifers 1.00-2.00 lower, most decline on 900 weights. Steer calves steady limited test. Heifer calves steady. Demand good for all classes. Fill average. Supply included: 100% Feeder Cattle (74% Steers, 25% Heifers, 1% Bulls). Feeder cattle supply over 600 lbs was 93%.
  
Tulia Livestock Auction - Tulia TX
                            This Week   Last Reported
Total Receipts:     2,680                3,215
Compared to last week: Feeder steers and heifers sold steady to 3.00 higher. Trade was active on good demand. Summer has officially begun with temperatures reaching triple digits. Slaughter cows and bulls traded steady. Supply included: 99% Feeder Cattle (54% Steers, 46% Heifers); 1% Slaughter Cattle (75% Cows, 25% Bulls); 0% Replacement Cattle (100% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 90%.
  
Greensboro Livestock Auction - Greensboro GA
                          This Week   Last Reported   Last Year
Total Receipts:    405                  248                    0
Compared to last week: Slaughter cows sharply lower, with an individual bringing .74, slaughter bulls mostly steady, feeder classes lightly tested, replacement cows lightly tested. Supply included: 60% Feeder Cattle (43% Steers, 51% Heifers, 6% Bulls); 40% Slaughter Cattle (94% Cows, 6% Bulls). Feeder cattle supply over 600 lbs was 29%.
  
Hope Livestock Auction - Hope AR
                          This Week   Last Reported   Last Year
Total Receipts:   869                   878                    0
Compared to last week: Feeder steers under 400 lbs. 5.00-7.00 lower; over 400 lbs. 2.00-5.00 lower. Feeder heifers were unevenly steady. Slaughter cows were steady. Slaughter bulls steady. Supply included: 74% Feeder Cattle (48% Steers, 44% Heifers, 8% Bulls); 23% Slaughter Cattle (88% Cows, 12% Bulls); 2% Replacement Cattle (25% Bred Cows, 75% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 18%.

  

Benton County Sale Barn – Siloam Springs AR
                           This Week   Last Reported   Last Year
Total Receipts:    1,694               1,620                 0
Compared to last week: Feeder steers mostly 2.00-7.00 lower except the better 450-550 lbs 4.00-6.00 higher. Feeder heifers mostly steady to 5.00 lower. Quality of feeder cattle not as good as last week. Slaughter cows 2.00-4.00 lower on the limited amount compared both weeks. Slaughter bulls not reported due to time. Supply included:80% Feeder Cattle (35% Steers, 44% Heifers, 22% Bulls); 13% Slaughter Cattle (100% Cows); 7% Replacement Cattle (14% Stock Cows, 59% Bred Cows, 27% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 19%.

  

Paris Stockyards - Pairs KY
                          This Week   Last Reported   Last Year
Total Receipts:   1,008               1,593                0
Compared to last week feeder steers sold 1.00-3.00 higher, with feeder heifers 2.00-4.00 higher. Slaughter cows steady, slaughter bulls steady. There was good demand for all classes of feeder and slaughter cattle, with moderate offerings and good buyer activity this week. Buyers showed good interest in heifer cattle and cattle with favorable condition as wet weather continue throughout the region. Supply included: 79% Feeder Cattle (51% Steers, 41% Heifers, 8% Bulls); 15% Slaughter Cattle (76% Cows, 24% Bulls); 6% Replacement Cattle (29% Bred Cows, 4% Bred Heifers, 67% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 43%.
  
Arcadia Livestock Auction - Arcadia FL
Receipts: 857.
Auction not reported this week. Market coverage will resume next Wednesday June 26, 2019.
  
Valentine Livestock Auction - Valentine NE
                           This Week   Last Reported   Last Year
Total Receipts:    1,175              2,856                   0
Thursday sale consisted of harvest cattle, bred cows and cow/calf pairs on this early summer sale. A very large supply of harvest cows and bulls came to town with several lots of cows going back to the country. Near 1350 head of harvest cattle were on the books. Bulk of the bred cows will start to calve in August for 30 to 75 days calving period. Most of the calves had spring vaccination shots. Supply included: 100% Replacement Cattle (17% Stock Cows, 46% Bred Cows, 36% Cow-Calf Pairs, 2% Heifer Pairs). 
  
Cedar Livestock Auction... Cedar City UT
                         This Week
Total Receipts:    134
Supply included: 52% Feeder Cattle (48% Steers, 42% Heifers, 10% Bulls); 31% Slaughter Cattle (71% Cows, 29% Bulls); 17% Replacement Cattle (5% Bred Cows, 95% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 48%

  

Douglas County Livestock Auction... Ava MO
                           This Week   Last Reported   Last Year
Total Receipts:    1,203                961                   0
Compared to last week, steers and heifers steady. Slaughter cows and bulls steady. Demand and supply moderate. Due to the hot and humid temperatures, Cattle Buyers are starting to discount cattle that have not shed off. Supply included: 88% Feeder Cattle (49% Steers, 1% Dairy Steers, 45% Heifers, 4% Bulls); 9% Slaughter Cattle (92% Cows, 8% Bulls); 3% Replacement Cattle (100% Bred Cows). Feeder cattle supply over 600 lbs was 23%.