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Daily Market Summary for November 15th

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 Compared to Previous Day: -0.11% Compared to 10 Days Ago: +1.87% Compared to 60 Days Ago: +14.79%​     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 November 15th

Slaughter Cattle: 

As of 3:00 PM Friday, trade is light on light to moderate demand in Nebraska and the Western Cornbelt, however not enough purchases for an adequate market test. Trade was inactive on light demand in the Southern Plains. The latest established market was on Thursday with live purchases in Nebraska from 114.00-116.50, bulk from 115.00-116.00 and dressed purchases at 182.00. In the Western Cornbelt on Thursday live purchases traded mostly at 115.00 with dressed purchases at 182.00. On Wednesday in the Southern Plains live purchases traded at 115.00.

Negotiated Sales:

Confirmed: 12,170 --- Week Ago: 52,597 --- Year Ago: 21,568

Formula Net - Dressed Steers & Heifers:

Head count priced today: 20,700

Weighted avg weight:           863

Weighted avg net price:   183.64

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle Thursday saw light trade develop with dressed sales marked at 243.00 delivered. Sales are 2.00-6.00 higher than the previous week. Buyers were indicating cattle that they bought this week would not be lifted until the first week in December. Light volumes of western Canadian fed cattle traded into the US. Depending on freight and dressing percentage, sales to the US are working back to the upper 140's on a live basis, FOB the feedlot. Sales to the US are at a couple dollars premium over local sales. 

Livestock Slaughter under Federal Inspection:              

                                   Cattle       Calves    Hogs         Sheep

Friday (est)              117,000     2,000      485,000      6,000

Week ago (est)        117,000     2,000      484,000      7,000

Year ago (act)          122,000     3,000      465,000      8,000

Week to date (est)  584,000   11,000   2,401,000    37,000

Last Week (est)       587,000   10,000   2,449,000    38,000

Last Year (act)         595,000   12,000   2,345,000    41,000

Previous Day Estimated   Steers & Heifers --- Cows & Bulls 

                         Thursday           92,000                    26,000             

Boxed Beef:

Boxed beef cutout values weak to lower on light demand and light offerings. Select and Choice rib and chuck cuts steady to weak while round cuts steady to firm. Select and Choice loin cuts weak to lower.  Beef trimmings mostly sharply higher on moderate to good demand and light offerings.

Cutout Values...                 Choice     Select

Current Cutout Values:     240.80     214.33

Change from prior day:        -0.26        -1.51

Choice/Select spread:          26.47

Total Load Count (Cuts, Trimmings, Grinds): 81

Cutter Cow Cutout: 185.07… +0.48

CME Feeder Cattle Index: 147.12... -0.27

Futures…

Live Cattle:

December: 119.10… +0.03

February: 124.97… +0.05

April: 126.07… -0.03

Feeder Cattle:

November: 146.25… -0.37

January: 144.27… +0.22

March: 144.22… +0.15

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December Hogs: 63.20… +0.45

December Crude Oil: 57.72… +0.95

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December Corn: 3.7125… -0.0450

January Soybeans: 9.1825… +0.0150

December Wheat: 5.0275… -0.0500

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Grain Cash Bids:

Kansas City Corn: 3.80… -0.02

Kansas City Soybeans: 8.78… +0.01

Kansas City Wheat: 4.93… -0.05

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Financial Markets:

Dow Jones Industrial Average: 28,003.94… +221.98

S & P 500: 3,120.38… +23.75

NASDAQ: 8,540.83… +61.81

U.S. Dollar Index: 98.00… -0.16

National Feeder & Stocker Cattle Summary

RECEIPTS:      Auctions      Direct    Video/Internet    Total

This week:     299,000       51,200       4,000                354,200

Last week:     360,400       49,600      23,900               433,900

Year Ago:      307,700       29,100      31,600                368,400

Compared to last week, steers and heifers sold steady to 3.00 higher.  The fall calf run has arrived and in a big way.  Last week, yearlings were sprinkled in the heavy runs seen nationwide with this being the second week in a row with cattle over 600 lbs coming in at only 37 percent.  All auction receipts were somewhat tempered this week with early week sales dealing with severely cold temps and frozen precipitation making travel hazardous from Missouri up through the Northern Plains and into the Upper Midwest.  With large sales of calves across the nation, buyers are spread out and some sales felt the effects of light buyer attendance at individual sales this week.  Most buyers at auctions have been order buyers as the true farmer-feeder is still in the combine trying to get the late crop out before adverse weather stops them.  Most farmer-feeders would sure like to put harvest behind them this year and are working late hours to try and get done before Turkey Day.  Health of calve have been a concern of buyers and some ranchers in the Sandhills of Nebraska couldn't get precondition shots in calves prior to sale day due the extremely wet pasture conditions. 

From the middle of September to this week, the CME Cattle Complex has seen a steady run up.  Wednesday CME cattle futures finally had an oversold correction to the downside as the market week after week has plowed higher.  The sharp losses in the Feeder Cattle contracts found fund managers rolling to the January and beyond contracts.  Also, on Wednesday, the Southern Plains feedyard managers were willing sellers and traded cattle at 115.00, steady with last week even though boxed-beef values are trading higher this week.  Northern Plains dressed trade was mostly 1.00 higher at 182.00.  Packer margins widened again this week, which should have been an exceptionally strong bargaining position for cattle sellers but that did not materialize this week.    For the week, the Choice cutout closed 1.68 higher at 240.80, while Select was 1.07 higher at 214.33; putting the Choice-Select spread at 26.47.  Cattle Slaughter under federal inspection estimated at 657K for the week, 6K more than last week and 9K more than a year ago.  Most of the harvest schedules are now being planned for December even though the calendar is still two plus weeks away.

Packers were tasked with a daunting undertaking after the fire in Western Kansas in August.  A great deal of fed cattle would need to get through the pipeline in the Southern Plains through the fall of the year.  This week on an earnings conference call, the Tyson CEO alluded to the Finney County plant being operational again around 60 days from now.  We all know that growing pains will be prevalent in this situation as it is almost like bringing a new plant online again; “You have to crawl before you can walk, etc.”  So far this year through week ending November 2, total cattle slaughter is a little more than 1 percent above a year ago.  Heifer slaughter is over 7 percent greater than a year ago while steer slaughter is near 3 percent below a year ago.  Year-to-Date Cow slaughter is near 3 percent higher than a year ago as well.  With these data points brought to the forefront, there is no doubt that the cattle herd has got to be contracting at this point.  High costs of production in the cow-calf sector has got to be a factor in this pullback in respect to “the factory”.  A sharp decline in cow Also, cow-calf producers nationwide are getting older and some have the winter of 2018-2019 fresh in their minds and are not wanting to take on Old Man Winter again.  There have already been auctions advertising some herd liquidations in the Plains states before the end of the year.  Auction volume this week included 37 percent weighing over 600 lbs and 38 percent heifers.

Thursday Auction Reports

Pratt Livestock Auction - Pratt KS

                        This Week   Last Reported

Total Receipts: 2,670              3,013

Compared to last week: Feeder steers and heifers not enough comparable weights for an accurate market trend, lower undertone noted. Using limited comparable weights, unweaned steer calves sold steady to 3.00 higher. Unweaned heifer calves sold unevenly steady. Overall, demand good to very good, quality average to attractive. Slaughter cows sold 4.00 to 5.00 higher, bulls sold steady to 2.00 higher using a limited test. Supply included: 84% Feeder Cattle (72% Steers, 27% Heifers, 1% Bulls); 16% Slaughter Cattle (96% Cows, 4% Bulls); 0% Replacement Cattle (100% Bred Cows). Feeder cattle supply over 600 lbs was 81%.

Bluegrass Stockyards South - Stanford KY

                       This Week   Last Reported

Total Receipts: 2,007            2,260

Compared to last Thursday: Feeder steers and feeder heifers sold steady to firm. Slaughter cows and slaughter bulls sold steady. Supply included: 94% Feeder Cattle (42% Steers, 4% Dairy Steers, 51% Heifers, 3% Bulls); 6% Slaughter Cattle (91% Cows, 9% Bulls). Feeder cattle supply over 600 lbs was 73%.

Mitchell Livestock Auction – Mitchell SD

                        This Week   Last Reported

Total Receipts: 4,346              3,562

Compared to last week: Feeder steers sold 1.00-5.00 higher, feeder heifers up to 700 lbs. sold 2.00-5.00 higher, heifers 701 lbs. and up sold steady to 2.50 lower. Many load lots in today’s offering. Demand was good. The next feeder cattle auction will be Nov. 21st, expecting 3000 head of cattle. Supply included: 100% Feeder Cattle (43% Steers, 57% Heifers). Feeder cattle supply over 600 lbs was 84%.

Woodward Wtd Avg Cattle - Woodward OK

                        This Week   Last Reported

Total Receipts: 6,002              6,650

Compared to last week: Feeder steers over 700 lbs steady to 3.00 lower. Feeder steers and steer calves under 700 lbs steady to 4.00 higher. Feeder heifers and heifer calves steady to 3.00 higher. Demand moderate to good. Calves right off the cow seeing a significant discount to the 45 plus day weaned calves. Quality average, few attractive. Cattle marked as un-weaned were either right off the cow or up to about 45 days weaned. Weigh-ups average to full. Supply included: 100% Feeder Cattle (57% Steers, 4% Dairy Steers, 37% Heifers, 3% Bulls).  Feeder cattle supply over 600 lbs was 61%.

Tulia Livestock Auction - Tulia TX

                       This Week   Last Reported

Total Receipts: 2,156             2,413

Compared to last week: Feeder steers and heifers sold mostly steady to instances 3.00 lower. Pre-conditioned light weight calves going back to wheat sold with a higher undertone. Trade activity and demand were moderate. Offerings mostly consisted of calves going back out on wheat. Slaughter cows and bulls sold steady to 2.00 higher. Supply included: 96% Feeder Cattle (50% Steers, 1% Dairy Steers, 46% Heifers, 4% Bulls); 4% Slaughter Cattle (100% Cows). Feeder cattle supply over 600 lbs was 42%.

Greensboro Livestock Auction - Greensboro GA

                       This Week   Last Reported

Total Receipts: 243                 291

Compared to a week ago: Slaughter cows 4.00 to 6.00 higher, slaughter bulls 6.00 to 8.00 higher, feeder cattle lightly tested, replacement cows lightly tested. Supply included: 41% Feeder Cattle (18% Steers, 68% Heifers, 15% Bulls); 59% Slaughter Cattle (85% Cows, 15% Bulls). Feeder cattle supply over 600 lbs was 8%.

Paris Stockyards - Pairs KY

                       This Week   Last Reported

Total Receipts: 2,833             3,188

Compared to last week feeder steers sold mostly steady to 2.00 higher. Feeder heifers sold steady to 2.00 higher. There was moderate demand for feeder classes. Slaughter cows sold 2.00 to 4.00 higher. Slaughter bulls sold 1.00 to 3.00 higher. There was good demand for slaughter classes. Supply included: 89% Feeder Cattle (48% Steers, 46% Heifers, 6% Bulls); 7% Slaughter Cattle (88% Cows, 12% Bulls); 4% Replacement Cattle (3% Stock Cows, 81% Bred Cows, 13% Cow-Calf Pairs, 3% Bulls). Feeder cattle supply over 600 lbs was 53%.

Douglas County Livestock Auction - Ava MO

                        This Week   Last Reported

Total Receipts: 1,727              1,250

Compared to last week, steers and heifers steady. Slaughter cows 2.00 to 3.00 higher, slaughter bulls steady. Demand and supply moderate.  Supply included: 84% Feeder Cattle (47% Steers, 44% Heifers, 9% Bulls); 12% Slaughter Cattle (92% Cows, 8% Bulls); 5% Replacement Cattle (23% Stock Cows, 77% Bred Cows). Feeder cattle supply over 600 lbs was 36%.

Farmers & Ranchers Livestock - Salina KS

                         This Week   Last Reported

Total Receipts: 4,362              3,932

Compared to last week: Steers 800-950 lbs steady to 2.00 lower; 800 lbs and under higher undertone noted with instances of 1.00-4.00 higher. Heifers 750-1100 lbs steady to 3.00 lower; 750 lbs and under higher undertone noted. Trade active and demand good. Supply included: 100% Feeder Cattle (52% Steers, 0% Dairy Steers, 48% Heifers). Feeder cattle supply over 600 lbs was 67%.

Hope Livestock Auction - Hope AR

                         This Week   Last Reported

Total Receipts: 1,302               1,510

Compared to last week: Feeder steers 2.00-4.00 higher. Feeder heifers 1.00-4.00 higher except 300-400 lb. were 10.00 higher. Slaughter cows 2.00-4.00 higher. Slaughter bulls steady. Supply included: 77% Feeder Cattle (53% Steers, 39% Heifers, 7% Bulls); 21% Slaughter Cattle (94% Cows, 6% Bulls); 2% Replacement Cattle (71% Bred Cows, 29% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 15%.

I-40 Livestock - Ozark AR

                        This Week   Last Reported

Total Receipts: 1,054               821

Compared to last week: Feeder steers and heifers sold 1.00-3.00 higher. Slaughter cows and bulls sold 6.00 higher on limited number observed due to time restraints. Supply included: 83% Feeder Cattle (40% Steers, 44% Heifers, 16% Bulls); 13% Slaughter Cattle (79% Cows, 21% Bulls); 4% Replacement Cattle (32% Stock Cows, 63% Bred Cows, 5% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 12%.

Billings Livestock Commission - Billings MT

                        This Week   Last Reported

Total Receipts: 5,898              5,895

Compared to last week: Yearling steers were too lightly tested last week to develop any market trend; yearling heifers were too lightly tested to develop an accurate market trend, however higher undertones were noticed. Steer calves under 500 lbs sold steady to weak, 500-750 lbs steers sold unevenly steady from 2.00 lower to 4.00 higher. All weights of heifer calves sold mostly 1.00-4.00 lower. Quality this week was mostly plain to average. Several load lots of calves were seen this week, and these offerings sold on mostly moderate to good demand.Demand overall was mostly light to moderate for heavy offerings. With heavy rain seen earlier in the week the yards and country are both very muddy. Calves all showed light to moderate amounts of mud today. Demand for lightweight calves remains limited again this week as west coast grass operations remain out of the market due to dry weather.

Benton County Sale Barn – Siloam Springs AR

                        This Week   Last Reported

Total Receipts: 1,888              2,440

Compared to last week: Feeder steers and bulls mostly steady to 5.00 lower instances 8.00 lower except the better 350-450 lb steers 1.00-2.00 higher and the 550-600 lb bulls 4.00 higher. Feeder heifers mostly steady to 2.00 higher except the better 350-450 lb and 550-650 lb 1.00-4.00 lower. Cows and bulls not reported due to time. Supply included: 100% Feeder Cattle (38% Steers, 45% Heifers, 17% Bulls). Feeder cattle supply over 600 lbs was 19%.

Cedar Livestock Auction - Cedar City UT

                      This Week   Last Reported

Total Receipts: 528                390

Demand was medium and supply was medium. Supply included: 81% Feeder Cattle (66% Steers, 0% Dairy Steers, 30% Heifers, 4% Bulls, 0% Dairy Heifers); 9% Slaughter Cattle (83% Cows, 17% Bulls); 10% Replacement Cattle (78% Bred Cows, 22% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 23%.

Valentine Livestock Auction - Valentine NE

                       This Week   Last Reported

Total Receipts: 3,920              3,855

Compared with last week steers traded steady and 450 to 550 lbs heifers traded steady to 6.00 higher. Demand was good with several buyers. Warmer weather in the area. Next Auction Dates for Nov 18th Regular Auction and Bred Female Auction and Nov 21st Spring Weaned Calves Supply included: 100% Feeder Cattle (71% Steers, 29% Heifers). Feeder cattle supply over 600 lbs was 30%.

San Angelo Cattle Auction - San Angelo TX

                        This Week   Last Reported

Total Receipts: 1,545               2,081

Compared to last week steer and heifer calves and yearlings 1.00-3.00 higher. Slaughter cows 2.00-4.00 higher with most advance on thinner cows; slaughter bulls 1.00 higher. Stock cows and pairs not well tested. Trading fairly active, demand good. Supply included: 84% Feeder Cattle (44% Steers, 47% Heifers, 9% Bulls); 13% Slaughter Cattle (77% Cows, 23% Bulls); 3% Replacement Cattle (97% Stock Cows, 3% Cow Calf Pairs). Feeder cattle supply over 600 lbs was 48%.

Stoney Pike Livestock Auction - Logansport IN

                      This Week   Last Reported

Total Receipts: 456                481

Compared to last week, slaughter steers and heifers were 5.00 to 7.00 higher with a good offering of higher quality steers and heifers with active buyer participation. A good offering of Holstein slaughter steers this week that were 1.00 higher. Cows were 2.00 to 4.00 higher with bulls 6.00 higher. Feeder steers and bulls were mostly steady to trending higher and feeder heifers were mostly steady. Supply included: 18% Feeder Cattle (30% Steers, 63% Heifers, 7% Bulls); 81% Slaughter Cattle (46% Steers, 21% Dairy Steers, 27% Heifers, 5% Cows, 1% Bulls, 1% Dairy Heifers); 0% Replacement Cattle (100% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 13%.

Ogallala Livestock Auction Market - Ogallala NE

                        This Week   Last Reported

Total Receipts: 4,980              5,240

Compared to last week, steers were steady - 8.00 lower and heifers were 1.00 - 11.00 lower. Demand was moderate to good. Supply included: 100% Feeder Cattle (66% Steers, 34% Heifers). Feeder cattle supply over 600 lbs was 12%.

Apache Livestock Auction - Apache OK

                        This Week   Last Reported

Total Receipts: 2,958              2,958

Compared to last week: Feeder steers 4.00 to 5.00 higher, feeder heifers 4.00 to 8.00 higher. Steer calves 5.00 to 11.00 higher. Heifer calves 3.00 to 6.00 higher. Quality good to attractive with improved demand. Slaughter cows 4.00 to 6.00 higher. Slaughter bulls 2.00 higher. A total of 542 cows and bulls sold with 79 percent going to packers. Supply included: 82% Feeder Cattle (50% Steers, 44% Heifers, 6% Bulls); 14% Slaughter Cattle (94% Cows, 6% Bulls); 4% Replacement Cattle (98% Bred Cows, 2% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 52%.

New Cambria Livestock Auction -New Cambria MO

                        This Week   Last Reported   Last Year

Total Receipts: 1,602               1,134             1,043

Compared to lat week, steers and heifers traded steady to 4.00 lower. Slaughter cows steady to 2.00 higher. Active market this week with enough variety of kind, condition and weight range to fit most everyone's needs. Supply moderate to heavy and demand moderate. Supply included: 91% Feeder Cattle (56% Steers, 42% Heifers, 2% Bulls); 9% Slaughter Cattle (87% Cows, 13% Bulls). Feeder cattle supply over 600 lbs was 42%.

Hardin County Stockyard - Savannah TN

                       This Week   Last Reported

Total Receipts: 980                 1,326

Compared to the same sale last week, Slaughter cows and bulls steady. Steers under 500 lbs 10.00 to 13.00 higher, over 500 lbs steady to 6.00 higher. Heifers under 650 lbs 3.00 to 10.00 higher, over 650 lbs steady. Bulls under 600 lbs 9.00 to 15.00 higher, over 600 lbs steady to 6.00 higher. Quality fair to fancy. Demand moderate to strong. Supply included: 88% Feeder Cattle (62% Steers, 1% Dairy Steers, 28% Heifers, 9% Bulls); 7% Slaughter Cattle (91% Cows, 9% Bulls); 5% Replacement Cattle (100% Bred Cows). Feeder cattle supply over 600 lbs was 50%.

Centennial Livestock Auction - Ft Collins CO

                        This Week   Last Reported

Total Receipts: 1,482               2,501

Compared to last week: Trade activity and demand moderate. Feeder steers under 550 lbs traded 1.00 to 6.00 lower, 550-650 lbs 1.00 to 3.00 higher, and over 650 lbs uneven. Feeder heifers under 700 lbs traded unevenly steady with no test on heifers over 700 lbs. The next available report will be Thursday, November 21, 2019. Supply included: 100% Feeder Cattle (61% Steers, 38% Heifers, 1% Bulls). Feeder cattle supply over 600 lbs was 49%.

Fairview Sale Barn Feeder Cattle Special - Fairview IL

                       This Week   Last Reported

Total Receipts: 1,558              1,226

Special feeder cattle sale saw active trade with good demand on a quality set of feeder cattle. Supply included: 100% Feeder Cattle (68% Steers, 32% Heifers, 0% Bulls). Feeder cattle supply over 600 lbs was 41%.