Daily Market Summary for Friday, January 19th:
Updated Monday thru Friday around 4:00 PM CST
If on a cell phone, view screen horizontally for best results.
Slaughter Cattle: Thus far Friday, trade was mostly inactive on light demand in all major feeding regions. Last week live cash purchases were at 120.00 in all major feedings regions. In Nebraska, dressed purchases were at 192.00. In the Western Cornbelt dressed purchases ranged from 190.00-192.00.
Trade developed late Friday afternoon at $195 in the North and $122.00 to $123.00 in the South.
Negotiated Sales: Confirmed: 620 Week Ago: 6,581 Year Ago: 8,427
Formula Purchases: Net - Dressed
Head count priced today: 13,300
Weighted avg weight: 852.00
Weighted avg net price: 191.13
Alberta Beef Producers Daily Report: Alberta direct cattle sales Thursday saw light trade develop with dressed sales ranging from 272.00-276.00 delivered. Initial sales are 3.00-6.00 lower than last week. All the cattle that traded this week would be lifted in 1-2 weeks. Cash to futures basis levels did weaken this week but still remain historically strong. For the most part this week's cash offering has been clean up.
Livestock Slaughter under Federal Inspection:
Cattle Calves Hogs Sheep
Friday (est 117,000 2,000 456,000 7,000
Week ago (est) 116,000 2,000 454,000 7,000
Year ago (act) 114,000 3,000 425,000 6,000
Week to date (est) 588,000 10,000 2,175,000 40,000
Week (est) 588,000 10,000 2,269,000 39,000
Last Year (act) 525,000 11,000 2,057,000 36,000
Saturday (est 27,000 0 163,000 1,000
Week ago (est) 23,000 0 181,000 0
Year ago (act) 47,000 0 280,000 0
Week to date (est) 615,000 10,000 2,338,000 41,000
Last Week (est) 611,000 10,000 2,450,000 39,000
Last Year* (act) 571,000 10,000 2,336,000 36,000
2018 YTD 1,771,000 30,000 6,910,000 111,000
2017 *YTD 1,724,000 31,000 6,804,000 108,000
Percent change 2.7% -4.4% 1.6% 2.6%
Boxed Beef: Boxed beef cutout values weak to lower on light to moderate demand and offerings. Select and Choice rib, round, and loin cuts steady while chuck cuts weak. Beef trimmings moderately to sharply higher on good demand and moderate offerings.
Cutout Values... Choice Select
Current Cutout Values: 204.86 200.16
Change from prior day: -0.83 -0.71
Choice/Select spread: 4.70
Cattle Futures Summary: Live cattle futures closed the day with losses of 32.5 to 75 cents, with nearby Feb down a nickel. Feeder cattle futures were $1 to $1.575 in the red. The CME feeder cattle index on January 18 was at $148.01, up $1.54 from the previous day. Wholesale boxed beef values were lower on Friday afternoon. Choice boxes were down 83 cents at $204.86, with Select boxes 71 cents lower at $200.16. Estimated week to date FI cattle slaughter is at 615,000 head including Saturday. That is 4,000 head more than last week. Cash trade was slow to develop this week, but late trade after Friday’s bell was reported in the $122-123.50 range. USDA reported Beef export sales for the week that ended Jan 11 totaled 15,008 MT. That was slightly ahead of the previous week and much larger than the same time last year. Shipments of beef were tallied at 15,072 MT, nearly 5.06% above the same week in 2017. Managed money spec traders were at their lowest reported CFTC bullish position since Nov 2016 on Tuesday.
February Live Cattle Futures: 121.90...-0.05
April Live Cattle Futures: 122.72...-0.75
June Live Cattle Futures: 114.72...-0.63
January Feeder Cattle Futures: 147.95...-1.22
March Feeder Cattle Futures: 145.60...-1.57
April Feeder Cattle Futures: 146.07...-1.30
CME Feeder Cattle Index: 148.01...+1.54
February Lean Hog Futures: 72.07...-0.98
National Grain Market Summary: Compared to last week, cash bids for wheat were lower, corn, soybeans and sorghum traded higher. This week, corn prices hit a new five month high and soybeans reached their highest price this month. Gains fueled by a higher soybean meal market as well as weather concerns for South America. USDA's export sales and shipments report is delyaed this week due to the Monday holiday and is set to be released this morning. Wheat was mixed from 3/4 to 7 cents lower. Corn was 1 3/4 to 7 3/4 cents higher. Sorghum was 5 to 6 cents higher. Soybeans were 23 cents higher.
Kansas City Corn: 3.39...+0.01
Kansas City Soybeans: 9.40...+0.09
Kansas City Wheat: 4.18...-0.02
March Corn Futures: 3.5250...+0.0100
March Soybean Futures: 9.7750...+0.0450
March Wheat Futures: 4.2275...-0.0250
Nearby Crude Oil Futures Contract: 63.37...-0.58
Dow Jones Industrial Average: 26,071.72...+53.91
U.S. Dollar Index: 90.64...+0.16
National Feeder & Stocker Cattle Summary
RECEIPTS: Auctions Direct Video/Internet Total
This Week 225,000 51,100 2,400 278,500
Last Week 372,300 39,800 118,200 530,300
Last Year 248,400 60,200 83,400 392,000
Compared to last week, steers and heifers trends were all over the board. Early week sales (if auctions were open due to severe cold temperatures and treacherous roads) of feeder steers and heifers were reported steady to 8.00 lower; mid-week sales were reported 2.00 to 8.00 higher after futures rallied and Live Cattle Futures had near limit higher moves on Wednesday. Steer and heifer calves followed the same trendline for the week; steady to 6.00 lower early week and steady to 8.00 higher mid-week. Bidders and buyers flipped their buyers cards readily in those mid to late week auctions as they tried to keep up with the uptick in futures.
With the CME closed Monday, Tuesday rolled around and the frenzy was on again. After the Feeders closed last Thursday at 143.82; it has been up from there again. The roller coaster is hopefully hitting another high and can sustain the momentum in weeks ahead. In the North Plains, heavier fleshed backgrounded cattle are plentiful however grass cattle and high quality replacement heifers are in high demand currently with not enough to go around for the buyers. Last week's large supply of cattle on offer across much of the country had the bears running for the woods thinking that feedyards were full and the longs would dictate the market. Anecdotes of North Plains feedyards shipping cattle to the South Plains to complete kills for this week were abuzz around the industry with feedyards willing to wait and see if prices get better later in the week.
Freezing cold temperatures the past few weeks have been a concern for the wheat crop in all areas. Producers do not like to see that low of temperatures around and they are keeping watch on their fields to see how much winterkill they will incur. Dressed steer slaughter weights were reported at 900 for the week ending January 6, 2018; 5 pounds below last year and 10 pounds below the previous 5 year average. This week's big news centered around the largest cattle feeder in the world divesting some assets and selling their U.S. feedyards to an investment firm for approximately $200 million. According to reports the current management team and agreements to supply a packer with cattle will continue. Auction volume this week included 64 percent weighing over 600 lbs and 42 percent heifers.
Thursday Auction Reports...
"Click" on individual auction links for complete report
*Denotes Auction not reported by the USDA & linked to Auction's website
Tulia Livestock Auction - Tulia TX...
Receipts: 3170 Last Week: 4133 Year Ago: 939
Compared to last week: Feeder steers and heifers sold 5.00 to 10.00 higher as prices rebounded from last week's loss. Trade activity was active on very good demand. More calves in the offering this week as the drought continues and winter wheat is getting short.
Pratt Livestock Auction - Pratt KS...
Receipts: 2312 Last Week: 3550 Year Ago: 1834
Compared to last week: Feeder steers 650-1000 lbs 4.00-8.00 higher; Feeder heifers 650-850 lbs 3.00-6.00 higher on a light test. Steer and heifer calves steady to higher undertone noted on a light supply. Trade moderate and demand good.
Farmers & Ranchers Livestock - Salina KS...
Receipts: 3808 Last Week: 3089 Year Ago: 3088
Compared to last week: Steers 600-1050 lbs 1.00-6.00 higher; 600 lbs and under steady undertone noted. Heifers 600-1000 lbs 3.00-4.00 higher; 600 lbs and under higher undertone noted.
San Angelo Cattle And Calf Auction - San Angelo TX...
Receipts: 624 Last Week: 1692 Year Ago: 619
Compared to last week steer and heifer calves firm to 2.00 higher. Slaughter cows and slaughter bulls steady. Stock cows and pairs steady. Trading and demand moderate. Quality mostly average to plain.
New Cambria Livestock Auction -New Cambria MO...
Receipts Week Ago Year Ago
2,178 1,649 2,215
Compared to last week, comparable sales of steers and heifers traded mostly 7.00 to 10.00 higher, with some spots up to 12.00 higher. Slaughter cows and bulls sold steady. January and March feeder cattle futures finished stronger today with both contracts making triple digit gains lending some support to the market.
Siloam Spring Livestock Auction - Siloam Spring AR...
Receipts: 608 Last week: 1977 Last year: 1855
Compared to last week: Feeders mostly steady to 6.00 higher with a light supply due to cold weather conditions. Slaughter cows and bulls 2.00-4.00 higher. Supply included about 420 feeder calves, 54 feeder yearlings, 45 replacement cows, 83 slaughter cows, and 6 slaughter bulls.
Ava Livestock Auction - Ava MO...
Receipts: 1039 Last Week: 2006 Year Ago: 1134
Compared to last week, steers and heifers 7.00 to 10.00 lower. Slaughter cows and bulls steady. Demand moderate to light, supply moderate. Near 13 percent of the receipts were replacement cows, slaughter cows and bulls.
Ozark Livestock Auction - Ozark AR...
Receipts: 299 Last week: 1145 Last year: 560
Compared to last week: Feeder steers and heifers under 400 lbs sold 8.00-13.00 higher, over 400 lbs sold steady to 8.00 higher, mostly 6.00 higher. Slaughter cows and bulls sold steady on a light test.
Columbia Livestock Auction - Columbia TN...
Receipts: 496 Last week: Holiday Last year: 389
Due to the holiday lay off last week, no trends could be established. Feeders: 368 Slaughter: 51 Replacements: 77 Slaughter cows made up 11 percent of the offering, slaughter bulls 2 percent, replacement cows 24 percent, and feeders 63 percent. The feeder supply included 46 percent steers, 44 percent heifers, and 10 percent bulls.
Apache Livestock Auction - Apache OK...
Receipts: 920 Last Week: 1963 Year Ago: 1250
Compared to last week: Feeder steers 6.00-8.00 higher, feeder heifers 5.00-10.00 higher. Steer and heifer calves 5.00-10.00 higher. Quality was good to attractive with several sets of fancy feeders off of wheat pasture, selling to very good demand. Supply included 56 percent over 600 lbs and 43 percent heifers.
Woodward Wtd Avg Cattle - Woodward OK...
Receipts: 3316 Last Week: 7247 Year Ago: 1400
Compared to last week:Feeder Steers 650 lb. and heavier 9.00-12.00 higher. Feeder heifers 5.00-10.00 higher. Steer calves 8.00-12.00 higher Heifers calves 5.00-10.00 higher. Demand very good for all classes.
Cattleman's Livestock Auction - Dalhart, TX...
Cattle and Calves: 1,450 Week ago: 2,747 Year Ago: 1,895
Compared to last week: Steer and heifer calves under 500 lbs firm, instances heifer calves 500-600 lbs 2.00-4.00 higher. Feeder steers and heifers over 600 lbs 3.00-4.00 higher. Slaughter cows and bulls 1.00-2.00 higher.
Burwell Livestock Auction Market - Burwell, NE...
Receipts: 1260 Last week: 3480 Last year: 1882
A limited number of comparable offerings from last week 550 to 600 lbs steers traded steady to 8.00 higher, 750 lbs steers traded 3.00 lower, 600 lbs heifers traded 4.00 lower.
Smithfield Livestock Auction - Smithfield NC...
Receipts: 702 Last Week: Last Year: 337
No trends available due to holidays and inclement weather. Moderate demand, buyer activity and offerings. Quality of cattle average. Slaughter cows made up 13 percent of the offering, slaughter bulls 4 percent, replacement cows 0 percent, and feeders 83 percent.
Cullman Stockyard - Cullman AL...
Receipts: 1002 Last Week: 000 Year Ago: 1397
Compared to last market covered: Slaughter cows and bulls sold steady to 2.00 higher. Feeder bulls and steers sold to 2.00 higher. Feeder heifers sold steady. Replacement cows and pairs sold steady. Slaughter cows 4 percent
Toppenish, WA Livestock Auction - Toppenish WA...
Receipts: 1675 Last Week: 2140 Year Ago: 2000
Compared to last Thursday at the same market, stocker and feeder cattle steady to 3.00 higher in a light test. Trade active with good demand for all classes. Slaughter cows steady to firm. Slaughter bulls 3.00-4.00 higher. Trade active with good demand as local interests need inventory.
Senatobia Livestock Auction - Senatobia MS...
Receipts This week 413 Last Week 0
Compared to last week slaughter cows no trend. Slaughter bulls no trend. Feeder steers no trend. Feeder heifers no trend. Feeder consisted of 56 percent steers and 44 percent heifers. Receipts weighing under 600 lbs 73 percent over 600 lbs 7 percent.
Lexington Livestock Market - Lexington, NE...
Receipts: 4040 Last Week: 4890 Year Ago: 4050
Compared to last week steers over 600 lbs sold 3.00 to 9.00 lower and heifers sold steady to 4.00 lower. Demand was moderate to good from the buyers in the crowd. The calf and feeder supply included 57 percent steers and 43 percent heifers with near 79 percent of the run weighing over 600 lbs.
Dunlap Wtd Avg Feeder Cattle Auction -Dunlap IA...
Receipts: 3703 Last Week: 3958
Compared to last week, a lower undertone was noted on both the steers and the heifers. Trade was active with a steady offering today. Receipts included 51 percent steers and 49 percent heifers.
Torrington Livestock Commission - Torrington WY...
Receipts: 849 Week Ago: 1379 Year Ago: 1076
Compared to a week ago, Slaughter and feeding cows traded 2.00 to 3.00 lower. Slaughter bulls also trading 3.00 to 5.00 lower. Slaughter and feeder cows consisted of 70 percent of the sale with 20 percent slaughter bulls. Remaining 10 percent consisted of feeder cattle.
Ft. Pierre Livestock Wtd Avg Report - Ft. Pierre SD...
Receipts: 4832 Last Week: 5272 Year Ago: 5589
Compared to last week: Feeder steers 5.00 to 10.00 lower except 600-650 lbs and 800-850 lbs 2.00 to 4.00 lower. Feeder heifers 6.00 to 8.00 lower except under 600 lbs steady to 2.00 lower. Good demand for this offering of feeder cattle, many long strings, full loads, and packages.
Greensboro Livestock Auction - Greensboro GA...
Receipts: 125 Last Week: 400 Year Ago: 304
No Trends Available. Slaughter cows 52 percent, slaughter bulls 6 percent, feeder supply 42 percent. In the feeder supply, steers made up approximately 9 percent of the run, heifers 11 percent, bulls 3 percent, and replacement cows 57 percent.