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Daily Market Summary for October 23rd

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: -0.28% Change from 10 Days Ago: -5.58% Change from 60 Days Ago: -9.55%​     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 October 23rd

Slaughter Cattle:

As of 3:00 PM Friday, negotiated cash trading in the Southern Plains has been at a standstill. In Nebraska and the Western Cornbelt, negotiated cash trading has been mostly inactive on light demand. Not enough purchases in any region for a full market trend. The last reported live market in the Southern Plains was on Tuesday at 106.00. In Nebraska, the last reported market was on Wednesday with live purchases from 104.00-105.00 and dressed purchases from 162.00-165.00. In the Western Cornbelt, the last reported market was on Wednesday with live purchases from 103.00-105.00 and dressed purchases from 163.00-165.00.

Negotiated Sales:

Confirmed:        1,668

Week Ago:         6,006

Year Ago:         12,846

Formula Net

Dressed Steers & Heifers:

Head count priced today:  13,900

Weighted avg. weight:       882 lbs.

Weighted avg. net price:    172.41

Cattle Slaughter under Federal Inspection:

Friday (est)                       103,000

Week ago (est)                  116,000

Year ago (act)                    109,000

Week to Date                    583,000

Same Period Last Week   592,000

Same Period Last year     581,000

Previous Day (est)

Steers & Heifers:  95,000

Cows & Bulls:        25,000

Boxed Beef:

Cutout Values:

Choice: 207.49… -1.37

Select:  191.40… +0.32

Choice/Select Spread: 16.09

Total Load Count: 148

Cutter Cow Cutout:

163.31… +1.54

CME Feeder Cattle Index for October 22nd:

134.01... -1.52

Futures Settlements…

Live Cattle:

October: 103.35… +0.03

December: 103.57… +0.10

February: 106.62… -0.15

Feeder Cattle:

October: 133.52… -0.30

November: 129.65… -0.77

January: 125.55… -0.65

December Hogs: 67.02… +0.82

December Crude Oil: 39.85… -0.79

December Corn: 4.1925… +0.0300

December Wheat: 6.3275… +0.1000

Grain Cash Bids:

Kansas City Corn: 4.13… +0.03

Kansas City Wheat: 5.38… +0.10

Financial Markets:

DJIA: 28,335.90… -27.76

S & P 500: 3,465.44… +11.95

NASDAQ: 11,548.28… +42.27

U.S. Dollar Index: 92.74… -0.21

National Feeder & Stocker Cattle Summary

RECEIPTS:    Auctions       Direct    Video/Internet     Total

This Week:   248,500       27,100             26,600          302,200

Last Week:   243,900       15,300               8,400          267,600

Year Ago:     290,200       33,700              32,700         356,600

Compared to last week, steers and heifers sold 4.00 to 8.00 lower.  Buyers continue to stress the importance of a fall preconditioning program. This week’s lack of robust demand was two-fold.  Too many calves coming off the cow coupled with a sharply lower CME Cattle Complex made for a tough situation when it came to the sale ring at local livestock auctions.  Top quality cattle with eye appeal will make the buyers shrug a little and put their hand in the air to acquire them; they know that those reputation producers sell one time a year and this is the only time to get those high-quality genetics.  The nearby cattle contracts tried to weather the storm this week as numbers of open interest waned.  October through June Live Cattle contracts closed the week 3.80 to 5.05 lower than last Friday, while the front 4 months of Feeder Cattle contracts were 3.32 to 5.38 lower, with the expiring October and next month November taking the brunt of the downturn. 

The new limits implemented in October were tested this Monday and traders were very well-aware of that as they did get into new territory for a normal day.  Low temperatures and precipitation are expected in the Plains this next week and cattle stress will be at the forefront of the ranchers’ mind.  Some areas have already seen a considerable amount of snow and they are thankful for the moisture; however, the calendar has not made Halloween yet and single digits will be commonplace in the Northern Plains this weekend into early next week.  Creighton University’s Rural Mainstreet overall index for October increased to above growth neutral to 53.2, up from the September posted value of 46.9.  This is the sixth consecutive month that the value has increased, but still well above April’s record low 12.1.  This 53.2 value is at the highest level since January 2020 and bankers in rural areas are still concerned about where the economy is moving.  More than one-third of bankers are also reporting that their local economies are experiencing recessionary economic conditions. 

Total red meat supplies in freezers were up 1 percent from the previous month but down 13 percent from last year. Total pounds of beef in freezers were up 3 percent from the previous month but down 1 percent from last year. Frozen pork supplies were up slightly from the previous month but down 22 percent from last year. Southern Plains fed cattle traded 2.00 lower at mostly 106.00 on Tuesday, while dressed sales traded 4.00 to 6.00 lower in Nebraska at 162.00-165.00.  Boxed beef continues its seasonal slide.  This afternoons Choice boxed beef was reported at 207.49, 2.54 lower than last Fridays close.  Select cutout was reported at 191.40, 2.12 lower than last Fridays close.  Estimated cattle slaughter under federal inspection this week was reported at a 643K, 11K less than last week, and 3K more than last year.  October 1 Year-to-Date Cattle slaughter is 3.3 percent less than a year ago, however beef production is only 0.3 percent below a year ago due to the larger slaughter weights of fed steers and heifers. The dressed steer weight for week ending October 10, 2020 was reported at 928 lbs, the exact same weight as five years ago.  Auction volume this week included 38 percent weighing over 600 lbs and 40 percent heifers.

Thursday Auction Reports...

Pratt Livestock Auction - Pratt KS

                         This Week   Last Reported   Last Year

Total Receipts: 2,502              2,147               1,732

Compared to last week, feeder steers and feeder heifers 650 lb to 950 lb sold 6.00 to 8.00 lower, instances 10.00 lower. No recent comparison on steers and heifers under 650 lb, however a lower market was noted. Demand was moderate. Slaughter cows and bulls sold unevenly steady. Supply included: 90% Feeder Cattle (54% Steers, 45% Heifers, 0% Bulls); 10% Slaughter Cattle (94% Cows, 6% Bulls); 0% Replacement Cattle (100% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 89%.

Bluegrass Stockyards South - Stanford KY

                         This Week   Last Reported   Last Year

Total Receipts: 1,108               1,416               2,106

Compared to last Thursday: Feeder steers and heifers 2.00-4.00 lower, Moderate demand for feeder and yearling classes. Slaughter cows 1.00-2.00 higher, Slaughter bulls steady, Moderate demand for slaughter classes. Supply included: 91% Feeder Cattle (44% Steers, 0% Dairy Steers, 43% Heifers, 13% Bulls); 9% Slaughter Cattle (90% Cows, 10% Bulls); 1% Replacement Cattle (83% Stock Cows, 17% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 52%.

Mitchell Livestock Auction – Mitchell SD

                         This Week   Last Reported   Last Year

Total Receipts: 3,609              1,782                2,345

Compared to last week: A lower undertone was noted on steers up to 900 lbs. Steers 900-950 lbs. were 6.00 lower. Steers over 950 lbs, had a lower undertone also. A lower undertone was noted on heifers up to 850 lbs. Heifers 850-900 were 4.00 lower. A steady to lower undertone was noted on heifers over 900 lbs. Many load lots in today’s offering. Demand was good. The next feeder cattle sale will be Oct.29th, expecting 5500 head of yearlings and spring calves, from now on auctions will start at 9:00 am. Supply included: 100% Feeder Cattle (56% Steers, 44% Heifers). Feeder cattle supply over 600 lbs was 94%.

Woodward Wtd Avg Cattle - Woodward OK

                         This Week   Last Reported   Last Year

Total Receipts:  3,319              3,907               4,521

Compared to last week: Feeder steers 8.00 to 10.00 lower. Feeder heifers 8.00 to 12.00 lower. Steer calves 2.00 to 6.00 lower except 450 to 500 steers up to 5.00 higher. Heifer calves 6.00 to 8.00 lower. Some unweaned calves were sharply lower depending on condition. Demand was light to moderate. Quality was fair to average. Supply included: 100% Feeder Cattle (57% Steers, 38% Heifers, 5% Bulls). Feeder cattle supply over 600 lbs was 54%.

Paris Stockyards - Pairs KY

                        This Week   Last Reported   Last Year

Total Receipts: 1,550              1,864                2,585

Compared to last week feeder steers sold 2.00 to 3.00 lower. Feeder heifers sold 1.00 to 2.00 lower. There was moderate demand for feeder classes. Slaughter cows and bulls sold 1.00 to 2.00 higher. There was moderate demand for slaughter classes. Supply included: 82% Feeder Cattle (44% Steers, 0% Dairy Steers, 39% Heifers, 17% Bulls); 13% Slaughter Cattle (89% Cows, 11% Bulls); 5% Replacement Cattle (4% Stock Cows, 70% Bred Cows, 15% Cow-Calf Pairs, 11% Bulls). Feeder cattle supply over 600 lbs was 52%.

Apache Livestock Auction - Apache OK

                        This Week   Last Reported   Last Year

Total Receipts: 1,409             1,925                1,987

Compared to last week: Feeder steers 2.00 to 6.00 lower, feeder heifers 3.00 to 8.00 lower. Steer and heifer calves mostly 3.00 to 6.00 lower. Quality good to attractive with moderate demand. Slaughter cows steady to 2.00 higher. Slaughter bulls steady. A total of 256 cows and bulls sold with 82 percent going to packers. Supply included: 82% Feeder Cattle (31% Steers, 63% Heifers, 6% Bulls); 15% Slaughter Cattle (89% Cows, 11% Bulls); 3% Replacement Cattle (93% Bred Cows, 7% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 30%.

I-40 Livestock - Ozark AR

                       This Week   Last Reported   Last Year

Total Receipts: 700                 860                 1,137

Compared to last week: Feeder steers under 400 lbs sold 6.00 higher, over 400 lbs sold 1.00-8.00 lower. Feeder heifers sold 5.00-8.00 lower. Some Value-added cattle sold with a premium. Plain and or fleshy unweaned cattle sold with a discount. Slaughter cows sold 1.00 lower, slaughter bulls sold 1.00 higher. Supply included: 68% Feeder Cattle (36% Steers, 43% Heifers, 21% Bulls); 18% Slaughter Cattle (74% Cows, 26% Bulls); 14% Replacement Cattle (18% Stock Cows, 56% Bred Cows, 7% Bred Heifers, 17% Cow-Calf Pairs, 3% Bulls). Feeder cattle supply over 600 lbs was 15%.

Greensboro Livestock Auction - Greensboro GA

                       This Week   Last Reported   Last Year

Total Receipts: 118                  214                  202

Compared to a week ago: slaughter cows mostly steady, slaughter bulls unevenly steady, feeder classes lightly tested, replacement cows lightly tested. Supply included: 55% Feeder Cattle (26% Steers, 47% Heifers, 26% Bulls); 37% Slaughter Cattle (92% Cows, 8% Bulls); 8% Replacement Cattle (100% Bred Cows). Feeder cattle supply over 600 lbs was 31%.

Farmers & Ranchers Livestock - Salina KS

                        This Week   Last Reported   Last Year

Total Receipts: 1,923             2,406                2,537

Compared to last week, steer and heifer calves under 600 lbs. no recent price comparison, a lower undertone was noted. Steers over 650 lbs. sold 4.00 to 7.00 lower. Heifers 600 lbs. to 850 lbs. 6.00 to 10.00 lower, heifers over 850 lbs. 2.00 lower. Demand was moderate on a light to moderate supply. Supply included: 100% Feeder Cattle (57% Steers, 43% Heifers). Feeder cattle supply over 600 lbs was 81%.

Tulia Livestock Auction - Tulia, TX

                         This Week   Last Reported   Last Year

Total Receipts: 1,612               1,849               1,852

Compared to last week: Feeder steers and heifers sold 7.00 to 11.00 lower on limited comparable sales. Trade activity was moderate on light to moderate demand. Drought conditions are really taking a toll on the cattle markets with planted wheat pastures needing moisture. A frigid forecast for next week expected, which causes concern for non-vaccinated or fleshy calves. Slaughter cows and bulls sold steady to 4.00 higher. Supply included: 92% Feeder Cattle (46% Steers, 46% Heifers, 8% Bulls); 6% Slaughter Cattle (99% Cows, 1% Bulls); 2% Replacement Cattle (94% Stock Cows, 6% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 45%.

Douglas County Livestock Auction - Ava MO

                         This Week   Last Reported   Last Year

Total Receipts: 1,149              1,369               1,031

Compared to last week, steer and heifer calves 4.00 to 8.00 lower, too few yearlings for a good price comparison. Slaughter cows and bulls steady. Demand and supply moderate. The bulk of the calves un-weaned or short weaned. Supply included: 77% Feeder Cattle (37% Steers, 1% Dairy Steers, 44% Heifers, 18% Bulls); 13% Slaughter Cattle (91% Cows, 9% Bulls); 10% Replacement Cattle (70% Bred Cows, 30% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 16%.

Toppenish Livestock Auction - Toppenish WA

                         This Week   Last Reported   Last Year

Total Receipts:  1,720              1,900               2,200

Compared to last Thursday at the same market, Stocker and feeder steers 4.00-6.00 lower. Stocker and feeder heifers 9.00-11.00 lower. CME positions shifted lower over the past week and feedlot buyers have been gun shy to take calves. Slaughter cows 3.00-9.00 lower as supply exceeds demand. Slaughter bulls steady. Trade moderate to active with light to moderate demand. Supply included: 35% Feeder Cattle (34% Steers, 16% Dairy Steers, 40% Heifers, 11% Dairy Heifers); 65% Slaughter Cattle (98% Cows, 2% Bulls). Feeder cattle supply over 600 lbs was 65%.

Producers Livestock Cattle Auction - San Angelo, TX

                       This Week   Last Reported   Last Year

Total Receipts: 1,634              1,585               1,372

Compared to last week steer and heifer calves and yearlings 3.00-8.00 lower with most decline on plainer unweaned calves. Slaughter cows steady, no comparison on slaughter bulls but lower undertone noted. Trading and demand only moderate at best. Supply included: 69% Feeder Cattle (45% Steers, 45% Heifers, 10% Bulls); 19% Slaughter Cattle (84% Cows, 16% Bulls); 12% Replacement Cattle (74% Stock Cows, 14% Bred Cows, 4% Cow-Calf Pairs, 8% Bulls). Feeder cattle supply over 600 lbs was 47%.

Benton County Sale Barn - Siloam Springs, AR

                        This Week   Last Reported   Last Year

Total Receipts: 1,298               1,904               1,449

Compared to last week: Feeders 6.00-20.00 lower mostly 10.00-15.00 lower with quality not as good as last week. Buyer activity was weak as we are in the middle of October with all the weather changes. No trend on cows and bulls not reported last week. Supply included: 75% Feeder Cattle (24% Steers, 0% Dairy Steers, 45% Heifers, 31% Bulls); 19% Slaughter Cattle (94% Cows, 6% Bulls); 6% Replacement Cattle (13% Stock Cows, 71% Bred Cows, 7% Bred Heifers, 9% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 19%.

Hardin County Stockyard - Savannah TN

                       This Week   Last Reported   Last Year

Total Receipts: 739                1,298               1,081

Compared to the same sale last week, Slaughter cows and bulls steady. Steers under 500 lbs steady to 3.00 lower, over 500 lbs steady to 8.00 lower. Heifers under 500 lbs 5.00 to 10.00 lower, over 500 lbs steady to 5.00 lower. Bulls steady to 10.00 lower. Quality fair to good. Demand moderate. Supply included: 84% Feeder Cattle (52% Steers, 35% Heifers, 13% Bulls); 8% Slaughter Cattle (85% Cows, 15% Bulls); 8% Replacement Cattle (60% Bred Cows, 8% Bred Heifers, 32% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 49%.

Valentine Livestock Auction - Valentine NE

                         This Week   Last Reported   Last Year

Total Receipts: 3,420              2,988                3,710

Compared with last week 500 lbs steer traded 4.5 higher, 550 to 650 lbs steers traded 4.00 to 7.5 lower. Comparable Heifers offers 500 to 550 lbs traded 9.00 to 10.00 lower. Demand was moderate to good with high internet bidding. Colder weather in the area with fog and light showers all day. Next Auction Dates for Oct 22nd and 29th Special Spring Calf Sale. Supply included: 100% Feeder Cattle (64% Steers, 36% Heifers). Feeder cattle supply over 600 lbs was 34%.

Winter Livestock - Dodge City, KS

                         This Week   Last Reported   Last Year

Total Receipts: 3,917               2,411               3,942

Compared to last week, feeder steers 650 lb to 1000 lb sold 4.00 to 7.00 lower, instances 10.00 lower. Feeder steers 600 lb to 650 lb sold 4.00 higher. Feeder steers 400 lb to 650 lb sold 3.00 lower, instances 5.00 to 8.00 lower. Feeder heifers 600 lb to 950 lb sold 2.00 to 5.00 lower, instances 8.00 lower. Feeder heifers 300 lb to 600 lb sold unevenly steady. Demand was moderate. Weaned calves sell 5.00 higher than nonweaned calves. Breaker and boner cows sold 1.00 to 2.00 higher. Lean cows sold 2.00 lower. Slaughter bulls sold 1.00 to 2.00 higher. Supply included: 93% Feeder Cattle (60% Steers, 38% Heifers, 1% Bulls); 6% Slaughter Cattle (94% Cows, 6% Bulls); 0% Replacement Cattle (33% Bred Cows, 67% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 62%.

Tulia Livestock Auction - Tulia TX

                         This Week   Last Reported   Last Year

Total Receipts: 1,612               1,849               1,852

Compared to last week: Feeder steers and heifers sold 7.00 to 11.00 lower on limited comparable sales. Trade activity was moderate on light to moderate demand. Drought conditions are really taking a toll on the cattle markets with planted wheat pastures needing moisture. A frigid forecast for next week expected, which causes concern for non-vaccinated or fleshy calves. Slaughter cows and bulls sold steady to 4.00 higher. Supply included: 92% Feeder Cattle (46% Steers, 46% Heifers, 8% Bulls); 6% Slaughter Cattle (99% Cows, 1% Bulls); 2% Replacement Cattle (94% Stock Cows, 6% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 45%.

Billings Livestock Commission Cattle Auction - Billings, MT

                         This Week   Last Reported   Last Year

Total Receipts:  1,912              1,582                2,492

Compared to last week: Yearling steers and heifers were too lightly tested to develop any market trend. Unweaned steer calves under 450 lbs sold with steady undertones. 450-599 lbs steers sold mostly 10.00 lower in a narrow comparison. All other weights of steer calves were too lightly tested to trend. Unweaned heifer calves under 450 lbs sold with steady to firm undertones, 450-649 lbs heifers sold mostly 3.00-5.00 lower. All other weights of heifers were too lightly tested to develop an any market trend. Quality this week was average to attractive. Demand was mostly light to moderate. Lower calf prices are reflective of lower CME positions as contracts have fallen sharply over the last week.

Hope Livestock Auction - Hope AR

                        This Week   Last Reported   Last Year

Total Receipts: 1,046             1,248                1,819

Compared to last week: Feeder steers 3.00-10.00 lower. Feeder heifers under 500 lbs. 6.00-12.00 lower; over 500 lbs. 2.00-7.00 lower. Slaughter cows steady. Slaughter bulls steady to 2.00 higher. Buyer activity was limited. Quality was plain to average. Supply included: 75% Feeder Cattle (49% Steers, 37% Heifers, 14% Bulls); 21% Slaughter Cattle (87% Cows, 13% Bulls); 4% Replacement Cattle (15% Stock Cows, 62% Bred Cows, 24% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 24%.