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Daily Market Summary for August 14th

Updated Monday thru Friday around 4:00 PM CT

See Entire Summary Below

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Daily Market Indexes & Trendlines Indicators of cattle/beef market strength 10-Day Index Trendline Change from Previous Day: +0.21% Change from 10 Days Ago: +3.42% Change from 60 Days Ago: +9.44%​     60-Day Index Trendline Indexes track daily market values for the past 10 & 60 days. Each daily value is the weighted total of the Gain/(Loss) for 15 market factors compared to the previous trading day.

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Daily Market Summary for August 14th

Slaughter Cattle:

As of 3:00 PM Friday, negotiated cash trading has been slow on light demand in the Northern Plains. Compared to last week live purchases moved 3.00 higher at 106.00 in both regions. In Nebraska dressed purchases moved unevenly steady at 168.00, when compared to Tuesday’s last reported market. So far for Friday in Kansas and Western Cornbelt negotiated cash trading has been limited on light demand. In Kansas a few live purchases moved at 105.00. However, not enough purchases for a market trend in either region. Wednesday was the last reported live purchase market in these regions, with Kansas at 104.00 and in the Western Cornbelt from 106.50 to 107.00. Tuesday was the last reported dressed purchase market in the Western Cornbelt from 165.00 to 170.00. Thus far for Friday in the Texas Panhandle negotiated cash trading has been at a standstill. Wednesday was the last reported live purchase market at 104.00.

Negotiated Sales:

Confirmed:             15,361

Week Ago:                6,259

Year Ago:                 5,042

Formula Net

Dressed Steers & Heifers:

Head count priced today:  29,900

Weighted avg. weight:       863 lbs.

Weighted avg. net price:    161.95

Cattle Slaughter under Federal Inspection:

Friday (est)                        112,000

Week ago (est)                  109,000

Year ago (act)                    115,000

Week to Date                    577,000

Same Period Last Week   573,000

Same Period Last year     579,000

Previous Day (est)

Steers & Heifers:  93,000

Cows & Bulls:        25,000

Boxed Beef:

Cutout Values:

Choice: 214.24… +3.29

Select:  199.29… +1.88

Choice/Select Spread: 14.95

Total Load Count: 126

Cutter Cow Cutout:

183.82… +2.77

CME Feeder Cattle Index for August 13th:

142.25… -0.85

Futures…

Live Cattle:

August: 107.60… +0.55

October: 110.22… +0.07

December: 112.82… Unchanged

Feeder Cattle:

August: 143.92… -1.03

September: 146.57… -0.80

October: 147.42… -1.05

October Hogs: 53.82… +1.47

September Crude Oil: 42.01… -0.23

September Corn: 3.2450… -0.0075

August Soybeans: 8.9700… +0.0075

September Wheat: 5.000… +0.0325

Grain Cash Bids:

Kansas City Corn: 3.46… -0.01

Kansas City Soybeans: 8.50… -0.01

Kansas City Wheat: 5.00… +0.03

Financial Markets:

DJIA: 27,931.02… +34.30

S & P 500: 3,372.85… -0.55

NASDAQ: 11,019.30… -23.20

U.S. Dollar Index: 93.11… -0.22

National Feeder & Stocker Cattle Summary 

RECEIPTS:      Auctions      Direct    Video/Internet      Total

This Week:     158,100       66,500           7,000           231,600

Last Week:     171,800       66,400       261,400           499,600

Year Ago:       104,800       27,900         70,100           202,800

Compared to last week, steers and heifers sold uneven, 1.00 lower to 3.00 higher.  Many of the receipts in the Northern Plains are coming off summer grass with the yearlings in excellent condition reported.  Buyers are looking for those cattle to perform very well in the feedlot with compensatory gains on the front end appearing to be very good.  A wide range of weather patterns have moved across the US in recent times and this week, an inland hurricane came close in proximity to a D3 drought designation in Iowa.  Some of those in the western part of Iowa are recalling the summer of 2012 and how bad it was then.  Producer anecdotes of year-to-date rainfall being 2 inches of moisture shorter than 2012 gives this year even more perspective for them.  A derecho swept across the Midwest early this week and left a path of destruction in its wake.  Grain bins, elevator legs, power poles, power lines and millions of acres of affected corn and soybeans were not able to withstand 100 plus mph winds. 

Grain traders saw an increase in value on the Board this week even though the latest WASDE report showed an increase in average yield for both corn and soybeans.  Negotiated cash fed cattle trade was 4.00 higher in the Southern Plains at 104.00 live, while dressed sales in Nebraska are 2.00 to 7.00 higher for the week at 165.00 to 170.00.  This morning’s Choice boxed beef was reported at 214.04, 8.57 higher than last Friday’s close.  Select cutout was reported at 199.24, 6.49 higher than last Friday’s close.  Estimated slaughter under federal inspection this week was reported at a 640K, 7k more than last week, and 13K less than last year.  Auction volume this week included 57 percent weighing over 600 lbs and 42 percent heifers.