Daily Market Summary for February 15th

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: +0.33%
Change from 10 Days Ago: +0.48%
Change from 60 Days Ago: +2.61%​
 

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.

 

Upcoming Sales...

  


 

 


 

Weekly Market Summary

 

Daily Market Summary for February 15th

   

Slaughter Cattle:  

As of 3:00 PM Thursday, negotiated cash trading in the Southern Plains was at a standstill. In Nebraska and the Western Cornbelt negotiated cash trading was limited on light demand. In the Western Cornbelt a few live cash trades moved from 124.00-127. However, not enough trades for a market trend. For the prior week in the Southern Plains live cash trades moved at 125.00. Last week in Nebraska live cash trades moved mostly from 125.00-125.50 and dressed cash trades moved at 200.00. For the prior week in the Western Cornbelt live cash trades ranged from 124.50-126.00 and dressed cash trades moved at 200.00.

 

Negotiated Sales:

Confirmed: 5,379    Week Ago: 3,178    Year Ago: 1,189
Week to Date: 12,849    Week Ago to Date: 6,507    Year Ago to Date: 4,265

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 43,000
Weighted avg weight:             866
Weighted avg net price:    200.01

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales so far this week have seen light trade develop with live sales ranging from 147.00-147.50, sales are 3.00-4.00 lower than last weeks weighted average price. Dressed bids have been reported anywhere from 243.00-252.00 delivered. Bids are 2.00-7.00 lower than the previous week. Cash to futures basis levels continue to weaken, basis levels are at the weakest point since February 2016. US packers are indicating they have enough Canadian fed cattle contracted and buying interest was next to non-existent on the cash market.

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep
Friday (est               111,000      2,000      465,000      8,000
Week ago (est)       115,000      2,000      442,000      8,000
Year ago (act)         114,000      3,000      442,000      7,000
Week to date (est)  570,000   12,000   2,296,000    38,000
Last Week (est)       585,000   10,000   2,299,000    38,000
Last Year (act)         579,000   10,000   2,299,000    36,000
Saturday (est             26,000        0            218,000      1,000
Week ago (est)          35,000        0            217,000      1,000
Year ago (act)            23,000        0               87,000         0
Week to date (est)   596,000   12,000    2,514,000    39,000
Last Week (est)        620,000   10,000    2,516,000    39,000
Last Year* (act)        589,000   10,000    2,389,000    36,000
2019 YTD               3,541,000   65,000  14,430,000  216,000
2018 *YTD             4,155,000   73,000  16,468,000  247,000
Percent change       -14.8%       -11.1%       -12.4%     -12.4%
Previous Day Estimated -- Steers & Heifers -- Cows & Bulls
                           Thursday       93,000                   24,000

 

Boxed Beef: 

Boxed beef cutout values firm to higher on moderate to fairly good demand and moderate offerings. Select and Choice rib, chuck, round, and loin cuts steady to firm. Beef trimmings mostly slightly higher on moderate to good demand and moderate offerings.
Cutout Values...                 Choice     Select
Current Cutout Values:     216.85     210.99
Change from prior day:       +0.78       +0.58
Choice/Select spread:           5.86
Total Load Count (Cuts, Trimmings, Grinds):  102

 

Cutter Cow Cutout: 164.68… +0.76

 

CME Feeder Cattle Index: 141.31… -0.19

 

Futures

Live Cattle:
February: 126.62… +0.50
April: 127.17… -0.20
June: 118.07… -0.20
Feeder Cattle:
March: 142.60… -1.47
April: 145.22… -1.28
May: 146.57… -1.10
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April Hogs: 59.52… +0.82
March Crude Oil: 55.59... +1.18
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March Corn: 3.7475… Unchanged
March Soybeans: 9.0750… +0.0400
March Wheat: 5.0425… -0.0275
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Weekly National Grain Market Review:
Compared to last week, cash bids for wheat were higher, corn, soybeans and sorghum were mixed.  Export inspections for week ending February 7th totaled 29.2 million bushels of corn, 39 million bushels of soybeans and 20.6 million bushels of wheat. All export inspection figures were lower when compared to the week prior.  Ethanol production for the week ending February 8th saw a 62,000 barrel per day increase compared to the week prior, totaling 1.029 million barrels per day.  USDA said export sales figures for week ending January 3rd totaled 18.1 million bushels of corn, 22.5 million bushels of soybeans, and 4.8 million bushels of wheat.  Wheat was 6 to 15 cents lower.  Corn was 2 cents lower to 5 cents higher.  Sorghum was 6 cents lower to 24 cents higher.  Soybeans were 9 cents lower to 3 cents higher.
 
Grain Cash Bids:
Kansas City Corn: 3.72… Unchanged
Kansas City Soybeans: 8.65… +0.05
Kansas City Wheat: 4.79… -0.03

 

Financial Markets:

Dow Jones Industrial Average: 25,883.45… +444.06
S & P 500: 2,775.59… +29.86
NASDAQ: 7,472.41… +45.46
U.S. Dollar Index: 96.87… -0.15

 

National Feeder & Stocker Cattle Summary

RECEIPTS:       Auctions     Direct    Video/Internet     Total
This Week        223,800     78,200           3,600          305,600
Last Week        259,700     56,100         22,300          338,100
Last Year          238,000    62,900           2,200          303,100
 
Compared to last week, steers and heifers sold 2.00 lower to 2.00 higher in the North and South Central areas while the Southeast steers and heifers were 2.00 to 5.00 higher. Grazing calves in all areas were in demand this week as procurement was essential to ranchers this week. Ranchers are gearing up for grazing season as many areas have ample moisture for this time of year. When looking at the drought monitor this week, most of the severely drought stricken areas from last year have all but vanished in the breadbasket of the country. Areas in TX, NM, and CO are still showing drought effects. Order buyers were out in full force this week as fewer receipts were at sales across the country and feedyards were willing to take on replacement cattle in spite of muddy pens in the major feeding regions. Winter Storm Nadia is tracking eastward late this week after dumping feet of snow to the West. It seems like Mother Nature wants winter to hang on as long as possible and cow-calf producers are sure wanting Punxsutawney Phil is correct and spring will be here very shortly.
 
Fed cattle prices were higher last week after six weeks of ho-hum steady markets. Feedyards just couldn't get over the proverbial hump to get to 125.00 until last week. This weeks trading has not yet been established as of this writing. Packers are very aware that cattle weights are not as large as they were last year this time, thus bringing less volume of meat to the market on similar head counts. This week's Valentine's Day holiday is one of the top 3 holidays for public eating out in restaurants with many of those customers choosing beef or a surf and turf for their entrees. Moving out of February and into March, a beef rally is expected to happen and with that should come increased fed cattle prices if the trickle down effect comes to fruition. When we get to warmer weather in the second quarter, middle meats will be front and center on retail ads with Mother's Day and Father's Day followed closely by Independence Day buying.
 
For the week, the Choice cutout closed 1.50 higher at 216.85, while Select was 0.18 lower at 210.99. Cattle Slaughter under federal inspection estimated at 596K for the week, 24K less than last week and 6K less than a year ago. Auction volume this week included 58 percent weighing over 600 lbs and 43 percent heifers.

 

Thursday Auction Reports... 

Pratt Livestock Auction - Pratt KS...
Receipts:  4283   Last Week:  2528    Year Ago:  4434
***Close*** Compared to last week: Feeder steers 700-800 lbs sold 5.00 to 7.00 lower, 800-950 lbs sold steady to 3.00 lower. Feeder heifers 600-650 lbs sold 3.00 to 5.00 higher, 850-900 lbs sold 1.00 to 5.00 higher, with a higher undertone noted on all other comparable weights. Due to no comparable weights from last week, no market test for calves. Overall, demand good to very good, quality average to mostly attractive. Slaughter cows sold steady to 2.00 higher. Bulls sold 2.00 to 4.00 higher. Feeder supply was 61 percent steers, 39 percent heifers, with 86 percent over 600 lbs.
  
Stoney Pike Livestock Auction - Logansport IN…
Receipts:  375    Last Week:  381    Year Ago:  167
Compared to last week, slaughter steers and heifers were steady to 3.00 higher with a good offering of slaughter steers and heifers today. Slaughter cows were 6.00 to 9.00 higher with bulls were 5.00 lower. All classes of feeder cattle were significantly higher today with good receipts. Holstein slaughter steers were trading 2.00 to 8.00 higher with a good offering.    
  
Bluegrass Stockyards South - Stanford KY…
Receipts:  1393    Last Week:  1554    Year Ago:  1322
Compared to last Thursday: Feeder steers 3.00-5.00 higher except over 800 lbs they were 2.00-4.00 lower, Feeder heifers steady to 2.00 higher, Good demand for feeder classes. In the majority of instances weaned and vaccinated offerings bringing a premium are noted below as VALUE ADDED, while exceptional quality offerings are noted as FANCY. Slaughter cows 2.00-4.00 higher, Slaughter bulls steady, Good demand for slaughter classes.
  
Greensboro Livestock Auction - Greensboro GA...
Receipts:  251   Last Week:  266   Year Ago:  369
Compared to one week ago, slaughter cows steady to 2.00 higher, with one individual bringing .73, slaughter bulls 4.00 to 6.00 higher, with an individual bringing .94. All feeder classes lightly tested.
  
Tulia Livestock Auction - Tulia TX...
Receipts:  3588    Last Week:  1910    Year Ago:  3207
Compared to last week:  Feeder steers and heifers traded unevenly steady.  Trade was very active on good demand.  The area is in much needed of moisture with high winds causing fire warnings.  Slaughter cows and bulls made up 1 percent, 0 percent replacements, and 99 percent feeders.  Feeder supply consisted of 57 percent steers and bulls, 43 percent heifers.  Near 96 percent of the run weighed over 600 lbs.
  
Ava Livestock Auction - Ava MO...
Receipts:  928    Last Week:  836    Year Ago:  1187
Compared to last week, Feeder steers steady to 4.00 higher. Feeder heifers steady to 6.00 higher. Demand moderate to good. Supply moderate. The feeder offering consisted of 50 percent steers and bulls, 37 percent heifers and 26 percent feeders over 600 lbs. Cows and bulls consisted of 13 percent of the total offering. Slaughter cows steady to 2.00 higher.
  
Apache Livestock Auction - Apache OK...
Receipts:  2129    Last Week:  1529    Year Ago:  2358
Compared to last week:  Feeder steers mostly 1.00-3.00 lower.  Feeder heifers 3.00-4.00 lower.  Steer calves under 500 lbs lower, over 500 lbs higher. Heifer calves mostly 2.00-6.00 higher.  Quality fair to good with fair demand for feeders and good demand for grazing cattle. Supply included 63 percent over 600 lbs and 48 percent heifers. Slaughter cows and bulls not enough comparable cattle for a market test. Packer demand moderate.  Total of 153 cows and bulls sold with 63 percent going to packers.
  
Farmers & Ranchers Livestock - Salina KS...
Receipts:  2120          Last week: 945              Last year:  2274
Compared to last week: Feeder steers and bulls mostly 3.00-6.00 higher. Feeder heifers uneven with the better kind under 500lbs 8.00-15.00 higher over 500 lbs and the plainer kind 1.00-5.00 higher. Slaughter cows and bulls not reported due to time. Value Added denotes cattle weaned at least 45 days with two rounds shots.
  
Benton County Sale Barn – Siloam Springs AR…
Receipts:  2120          Last week: 945              Last year:  2274
Compared to last week: Feeder steers and bulls mostly 3.00-6.00 higher. Feeder heifers uneven with the better kind under 500lbs 8.00-15.00 higher over 500 lbs and the plainer kind 1.00-5.00 higher. Slaughter cows and bulls not reported due to time. Value Added denotes cattle weaned at least 45 days with two rounds shots.
  
Billings Livestock Commission - Billings MT
Receipts:  3,092    Last Week:  776    Year Ago:  1.639
Compared to the week: Feeder steers were all too lightly tested last week to develop an accurate market trend, however higher undertones were noticed. The best test for feeder heifers was for 650-749 lbs which sold mostly 2.00-5.00 higher. All other heifers were too lightly tested to develop an accurate market trend, however higher undertones were noticed.
  
San Angelo Cattle Auction - San Angelo TX…
Receipts:  1015    Last Week:  1494    Year Ago:  1735
Compared to last week steer and heifer calves and yearlings firm to 2.00 higher.  Slaughter cows and slaughter bulls steady.  Stock cows and pairs firm to moderately higher.  Trading fairly active, demand good with most interest on light calves.
  
Athens Livestock Auction - Athens GA…
Receipts:  478    Last Week:  860    Year Ago:  561
Compared to one week earlier, slaughter cows 7.00 to 9.00 higher, slaughter bulls 3.00 to 4.00 higher, feeder steers lightly tested, feeder bulls steady, feeder heifers steady, steer calves lightly tested, bull calves unevenly steady, heifer calves steady, replacement cows lightly tested.
  
Woodward Wtd Avg Cattle - Woodward OK...
Receipts:  6012    Last Week:  4810    Year Ago:  3316
Compared to last week: Feeder steer 650 lbs and heavier steady to 1.00 higher. Feeder heifers steady except 700 lbs. 4.00 higher. Steer calves steady to 5.00 higher. Heifer calves 1.00-5.00 higher. Demand good for all classes. Fill average to full. Supply includes 79% 0ver 600 lbs. 43% heifers.
  
Senatobia Livestock Auction - Senatobia MS...
Receipts     This week    545       Last Week    109
Compared to last week slaughter cows trended 2.00 to 3.00 Higher. Slaughter bulls trended Steady. Feeder steers trended mixed. Feeder heifers trended 4.00 to 8.00 Higher. Feeder consisted of 52 percent steers and 48 percent heifers. Receipts weighing under 600 lbs 59 percent over 600 lbs 35 percent. Total receipts were made up of 94 percent feeders, 6 percent slaughter cows and 0 percent Pairs/Replacements.
  
Paris Stockyards - Pairs KY…
Receipts:  1555    Last week:  2187    Last year:  2100 
Internet Receipts: 165 Results posted at the bottom of this report. Compared to last week: Feeder steers under 600 lbs sold 2.00-4.00 higher, over 600 lbs steady. Heifers under 600 lbs 4.00-600 higher, over 600 lbs steady. slaughetr cows 4.00-5.00 higher, bulls 3.00 higher.
  
Cullman Stockyard - Cullman AL...
Receipts:  624    Last Week:  923    Year Ago:  688
Compared to last week's market: Slaughter cows and bulls sold steady. Feeder bulls and steers sold steady. Feeder heifers sold steady. Replacement cows and pairs sold steady. Slaughter cows 6 percent, slaughter bulls 1 percent, replacement cows and pairs 20 percent, and feeders 73 percent. The feeder supply included 10 percent steers, 42 percent heifers, and 48 percent bulls. Near 15 percent of the run weighed over 600 lbs. 
  
Smithfield Livestock Auction - Smithfield NC...
Receipts:  440           Last Week:  878     Last Year: 544
Compared to last week, high dressing cows were 5.00 to 6.00 higher with breakers and boners 4.00 higher; lean cows were steady.  Feeder heifers were steady; 350-500 lb. steers and bulls were 10.00 higher, others were steady. Slaughter cows made up 10 percent of the offering, slaughter bulls 1 percent, replacement cows 2 percent, and feeders 87 percent.  The feeder supply included 32 percent steers, 47 percent heifers, and 20 percent bulls. Near 18 percent of the run weighed over 600 lbs.
  
Toppenish, WA Livestock Auction - Toppenish WA
Receipts:  820    Last Week:  1370    Year Ago:  2020
Compared to last Thursday at the same market, not enough stocker or feeder cattle offered this week for accurate trends. Slaughter cows 5.00-8.00 higher. Slaughter bulls not tested. Slaughter cows and bulls remain in short supply. Trade active with good demand for all classes as inclement weather conditions affecting the movement of livestock in the trade area. Slaughter cows 99 percent, slaughter bulls 0 percent, and feeders 1 percent of the supply. The feeder supply included 0 percent steers and 100 percent heifers. Near 100 percent of the run weighed over 600 lbs. 
  
Cattleman's Livestock Auction - Dalhart, TX...
Cattle and Calves: 1,687       Week ago: 1,872      Year Ago: 2,625
Compared to last week:  Steer and heifer calves under 600 lbs firm.  Feeder steers and heifers over 600 lbs steady to 1.00 lower.  Slaughter cows and bulls mostly steady.  Trade fairly active.  Demand fairly good.  Bulk of supply Medium and Large 1-2 350-800 lb feeder steers and heifers.  Slaughter cows made up 26 percent, slaughter bulls less than 1 percent, replacement cows less than 1 percent, and feeders 74 percent.  The feeder supply included 43 percent steers and 57 percent heifers.  Near 56 percent of the run weighed over 600 lbs.
  
Fairview Sale Barn FC - Fairview IL…
Receipts:  1110    Last Week:  2205    Year Ago:  1986
Special unrestricted feeder sale saw active trade with good demand on a high quality set that were mostly all weaned with shots. Steers accounted for 51 percent of the run; heifers 46 percent; and bulls 3 percent. Feeder cattle over 600 lbs 46 percent.
  
New Cambria Livestock Auction -New Cambria MO...
Receipts          Last Reported          Year Ago           (2/14/2019)
 2,805                                                    1,963
Compared to the last sale two weeks ago steers and heifers sold unevenly steady to 5.00 higher with some light grass cattle as much as 10.00 higher. Slaughter cows steady to 2.00 higher. Some weakness was evident for cattle over 700 lbs, at a tricky time of year for heavy weights. The cash market has been predominately influenced by severe weather the past several weeks but has stayed in a pretty comfortable trading range. Thursday's sale was no exception as buyers set the market early and pushed the right kind a few dollars higher than the previous sale's high prices. Supply heavy and demand moderate to good.  Feeder cattle supply included 57 percent Steers, 42 percent Heifers, and 1 percent Bulls. Feeder cattle supply over 600 lbs was 61 percent.
  
Ozark Livestock Auction - Ozark AR...
Receipts:  381        Last week:  416        Last year:  728
Compared to last week: Feeder steers and heifers sold steady to 9.00 higher with full advance on 500-600 lb steers and 400-500 lb heifers. Slaughter cows and bulls sold steady. Supply included 240 feeder calves; 83 feeder yearlings; 13 replacement cows; 38 slaughter cows and 7 slaughter bulls.  The feeder supply included 34 percent steers, 53 percent heifers, and 13 percent bulls. Near 26 percent of the run weighed over 600 lbs.