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Daily Market Summary for March 27th

Updated Monday thru Friday around 4:00 PM CT

See Entire Summary Below

Daily Market Indexes & Trendlines
Indicators of cattle/beef market strength

10-Day Index Trendline

Compared to Previous Day: -1.82%
Compared to 10 Days Ago: +9.39%
Compared to 60 Days Ago: -10.10%​

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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Weekly Market Summary


Daily Market Summary for March 27th

Slaughter Cattle:
As of 3:00 PM Friday, negotiated cash trade was mostly inactive on good demand in most feeding regions. Not enough purchases in any feeding region for an adequate market test. The latest established market in any feeding region was on Wednesday with live purchases in the Texas Panhandle from 118.00-120.00. In Kansas and Nebraska on Wednesday, live purchases traded from 119.00-120.00. Dressed purchases in Nebraska traded mostly at 190.00, with a few up to 190.50. In the Western Cornbelt on Wednesday, live purchases traded at 120.00 with dressed purchases at 190.00.
Negotiated Sales:
Confirmed:     3,892
Week Ago:      3,529
Year Ago:        6,419
Formula Net
Dressed Steers & Heifers:
Head count priced today:  21,500
Weighted avg. weight:       868 lbs.
Weighted avg. net price:   178.81
Cattle Slaughter under Federal Inspection:
Friday (est)                        117,000
Week ago (est)                  109,000
Year ago (act)                    107,000
 Week to Date                   601,000
Same Period Last Week  583,000
Same Period Last year     584,000
Previous Day (est)
Steers & Heifers:  96,000
Cows & Bulls:        27,000
Boxed Beef:
Boxed beef cutout values steady to weak on light to moderate demand and moderate to heavy offerings. Select and Choice rib and chuck cuts steady to firm. Choice round cuts steady while Select lower. Choice loin cuts lower while Select firm.
Cutout Values:
Choice: 252.84… -0.73
Select:  242.38… +0.21
Choice/Select Spread: 10.46
Total Load Count: 124
Cutter Cow Cutout:
186.61… +1.53
CME Feeder Cattle Index for March 26th:
130.44… +1.94
Live Cattle:
April: 100.95… -4.50
June: 89.42… -4.13
August: 90.45… -4.02
Feeder Cattle:
April: 120.60… -4.50
May: 120.92… -4.50
August: 127.10… -4.50
April Hogs: 58.45… -4.45
April Crude Oil: 21.51… -1.09
May Corn: 3.4600… -0.0275
May Soybeans: 8.8150… +0.0125
May Wheat: 5.7125… +0.0225
Grain Cash Bids:
Kansas City Corn: 3.44… -0.11
Kansas City Soybeans: 8.72… -0.01
Kansas City Wheat: 5.55… -0.02
Financial Markets:
DJIA: 21,621.93… -930.24
S & P 500: 2,541.45… -88.62
NASDAQ: 7,502.38… -295.16
U.S. Dollar Index: 98.40… -0.95


National Feeder & Stocker Cattle Summary

RECEIPTS:      Auctions      Direct    Video/Internet    Total
This Week:      87,200       22,000            4,200             113,400  
Last Week:      59,000       10,200          16,500               85,700  
Year Ago:      258,700       68,700            2,000             329,400   


Compared to last week, steers and heifers sold 8.00 to 15.00 higher.  Auction prices this week rebounded heartily and recovered most if not all the losses incurred last week.  The supply of feeders was light again this week and not near what is considered normal for this time of year.  Some ranchers saw an opportunity to market cattle with higher moves (3 of 4 days being limit up moves) in Cattle Futures from Thursday last week to Tuesday of this week.  The sales that did occur in the Plains states consisted of several loads of cattle that ranchers really wanted to move a week or two earlier, but had not occurred due to the global volatility of financial markets.  Demand for feeders was reportedly good to very good at markets that did have sales and some impressive prices were reported at some locations.  On Tuesday at Kingsville (MO) Livestock Auction, two loads of 778 lb steers sold at 158.35, while a load of 812 lb steers sold at 151.00.  On Wednesday, a load of 656 lb steers at the St Joseph (MO) Stockyards sold at 164.75.  The lofty prices brought on optimism to the market coupled with 118.00 to 120.00 fed cattle trade in the Southern Plains, 7.00 to 8.00 higher than the previous week.  Dressed sales in Nebraska were reported at 185.00 to 190.00, 15.00 higher than last week. 
Calving season is in full swing now and the Plains states are dealing with muddy conditions after several weather fronts moved through mid to late March.  Slaughter cow prices skyrocketed early this week at auctions nationwide.  Demand for boneless lean ground beef continued to move higher as cow plants needed product to move through the marketing chain this week to fill ground beef orders place by retailers.  With most restaurants nationwide either closed or only filling carry out orders, the grocery stores have had trouble finding enough protein products to fully stock their cases.   Consumers are staying in and eating all their meals at home as never before, but the uncertain nature of consumers spending will remain for a while. 
On Monday this week, NASS reported total red meat supplies in freezers were up 3 percent from the previous month and up 5 percent from last year. Total pounds of beef in freezers were up 1 percent from the previous month and up 4 percent from last year.  Cattle Slaughter under FI estimated at 676K for the week, 23K more than last week and 57K more than a year ago.  The total for this week included a large Saturday slaughter of 75K, the largest non-holiday Saturday slaughter in the first quarter.  The aggressive slaughter this week is a typical slaughter in the month of June, not March.  Boxed-beef prices seem to be getting top heavy and movement of loads are getting back to normal.  From last Friday’s close to this Friday morning’s report, Choice cutout was 1.64 lower at 252.11, while Select was 1.44 higher at 241.61; narrowing the Choice-Select spread to 10.50.  Auction volume this week included 65 percent weighing over 600 lbs and 43 percent heifers.


Monday Mid-Session Reports...

Oklahoma National Stockyards - Oklahoma City OK
                        This Week   Last Reported   Last Year
Total Receipts: 8,000              1,310              7,405
Compared to last week: Feeder steers and heifers are trading 4.00-8.00 lower in early round. Grazing cattle along with all classes of calves to lightly tested so far for an accurate trend. Demand light to moderate. Futures continue to fall so far today causing buyers to be very picky. Quality average to plain. Supply included: 100% Feeder Cattle (53% Steers, 44% Heifers, 2% Bulls). Feeder cattle supply over 600 lbs was 63%.

Friday/Saturday Auction Reports

Carolina Stockyards Livestock Auction - Siler City NC
                       This Week   Last Reported
Total Receipts: 937                465
Compared to last week slaughter cattle were down 3.00 to 5.00. Feeder cattle steady to up 2.00 to 3.00. Demand was moderate; market activity and buyer interest were moderate. Offerings were moderate with quality average Baby calves 5.00 to 30.00 6 head Supply included: 58% Feeder Cattle (40% Steers, 1% Dairy Steers, 41% Heifers, 18% Bulls); 15% Slaughter Cattle (83% Cows, 17% Bulls); 0% Replacement Cattle (100% Cow-Calf Pairs); 10% Slaughter Sheep/Lambs (65% Hair Breeds, 18% Ewes, 17% Bucks); 17% Slaughter Goats (47% Kids, 17% Nannies/Does, 9% Bucks/Billies, 1% Wethers, 26% Wether Kids). Feeder cattle supply over 600 lbs was 18%.
Eastern MO Commission Company - Bowling Green MO
                        This Week   Last Reported
Total Receipts: 1,447               460
Compared to the last special two weeks ago, steers calves weighing 500-650 lbs sold mostly 10.00-15.00 higher, with 650-750 lbs steers trading 6.00-10.00 higher. Feeder heifers sold mostly 8.00-15.00 higher. Slaughter cows sold mostly steady. Demand was good with supply moderate. A good offering of steer calves weighing 550-700 lbs sold with the best demand. A much different market than two weeks ago as fed cattle prices rallied 8.00-10.00 higher this week and buyers step up to the plate to buy cattle despite cattle futures selling off from Wednesday to Friday. Supply included: 81% Feeder Cattle (52% Steers, 48% Heifers); 19% Slaughter Cattle (11% Steers, 10% Heifers, 73% Cows, 5% Bulls). Feeder cattle supply over 600 lbs was 51%.
Torrington Livestock Commission - Torrington WY
                        This Week   Last Reported
Total Receipts: 2,478              457
Compared to last week; slaughter cows sold unevenly steady. Feeder cows traded 3.00 to 4.00 higher. Slaughter bulls also selling 2.00 to 3.00 higher. No trend on feeder cattle this week, but an active market with some nice long string of feeder cattle. Until further notice there will be just one sale a week on Fridays selling all classes of cattle. Supply included: 78% Feeder Cattle (50% Steers, 50% Heifers); 19% Slaughter Cattle (84% Cows, 16% Bulls); 3% Replacement Cattle (100% Stock Cows). Feeder cattle supply over 600 lbs was 70%.
Ash Flat Livestock Auction - Ash Flat AR
                       This Week   Last Reported
Total Receipts: 499               183
Compared to last week: With limited sales last week an equal comparison is not available, but cattle across all ranges trended sharply higher with much more demand than that of the previous week with a moderate supply of feeders and a good supply of slaughter cattle that also trended much higher with strong demand on slaughter cattle. Supply included: 76% Feeder Cattle (40% Steers, 40% Heifers, 20% Bulls); 16% Slaughter Cattle (70% Cows, 30% Bulls); 8% Replacement Cattle (3% Stock Cows, 38% Bred Cows, 59% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 25%.
Burwell Livestock Auction Market - Burwell NE
                      This Week   Last Reported
Total Receipts: 785              5,060
No recent test of market for an accurate comparison a trend will not be given for steers or heifers. High internet activity for the day and active bidding in the barn from buyers. Next Auction Date April 10th Supply included: 96% Feeder Cattle (55% Steers, 45% Heifers); 4% Replacement Cattle (100% Heifer Pairs). Feeder cattle supply over 600 lbs was 87%.
Smith County Commission - Carthage TN
                       This Week   Last Reported
Total Receipts: 889                567
No trends were established, market not reported last week. Supply included: 60% Feeder Cattle (28% Steers, 47% Heifers, 26% Bulls); 33% Slaughter Cattle (88% Cows, 12% Bulls); 7% Replacement Cattle (100% Bred Cows). Feeder cattle supply over 600 lbs was 25%.
Ericson Livestock Auction - Ericson NE
                        This Week   Last Reported
Total Receipts: 3,675              2,212
Compared to two weeks ago, steers sold 2.00 to 8.00 higher and heifers sold steady to 3.00 higher. Demand was active from the buyers in the crowd. Supply included: 100% Feeder Cattle (64% Steers, 36% Heifers). Feeder cattle supply over 600 lbs was 83%.