Daily Market Summary for April 13th...

Updated Monday thru Friday around 4:00 PM CST

10-Day & 60-Day Market Trendlines
Indicators of overall cattle/beef market strength

10-Day Market Trendline

Change from Previous Day: +0.71%
Change from 10 Days Ago: +1.44%
Change from 60 Days Ago: -12.20%
60-Day Market Trendline

Trendlines display daily market factors for the past 10 & 60 days.
Each daily factor is the weighted total of the Gain/(Loss) for
12 market indicators compared to the previous trading day.

 Upcoming Sales...



Slaughter Cattle:

So far for Friday in Kansas trading has been slow on light demand. A few live cash trades have moved from 118.00-120.00. However, not enough for a full market trend. In the Nebraska and the Western Cornbelt trading has been limited on light demand. However, not trading in these regions for a market trend. The last fully reported market in Kansas was last week with live cash trades mostly at 118.00. For the prior week in Nebraska live cash trades were from 114.00-119.00 and dressed trades were from 184.00-190.00. In the Western Cornbelt for the previous week saw live cash trades from 116.00-120.00 and dressed trades mostly at 188.00. Thus far for Friday in the Texas Panhandle and Colorado trading has been at a standstill. This week in the Texas Panhandle live cash trades have moved at 117.00. In Colorado last week a very light test of live cash trades were at 119.50.

 

Update: Trade developed late Friday afternoon at $122.00 per cwt.

 

Negotiated Sales:

Confirmed: 15,493   Week Ago: 9,373   Year Ago: 2,429

 

Formula Purchases: Net - Dressed

Head count priced today: 13,800

Weighted avg weight:      846.00

Weighted avg net price:   190.61

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 260.00 delivered. Sales are steady to 1.00 lower than prices seen on Wednesday. Cash to futures basis levels did strengthen this week. Tentatively cash to futures basis levels are the strongest they have been since January. Buying interest in the cash market was mixed with the bulk of sales going to one buyer. With fed cattle prices moving back to the mid 150's feedlots are likely selling cattle at or below breakeven levels.

 

Livestock Slaughter under Federal Inspection:

                                 CATTLE    CALVES   HOGS       SHEEP

Friday (est             116,000     2,000      462,000       6,000

Week ago (est)      114,000     2,000      455,000       6,000

Year ago (act)        109,000     2,000      373,000       6,000

Week to date (est) 591,000    10,000   2,294,000      37,000

Last Week (est)     571,000    10,000   2,167,000      35,000

Last Year (act)       567,000    10,000   2,151,000      46,000

 

Saturday (est           14,000        0            91,000       1,000

Week ago (est)        44,000         0          168,000       1,000

Year ago (act)          22,000     1,000         76,000         0

Week to date (est) 605,000    10,000     2,385,000    38,000

Last Week (est)      615,000    10,000    2,335,000     36,000

Last Year* (act)      589,000    10,000    2,227,000     46,000

2018 YTD            8,975,000  152,000   35,610,000   567,000

2017 *YTD          8,781,000  149,000   34,659,000   576,000

Percent change       2.2%         1.8%        2.7%          -1.5%

 

Boxed Beef:  

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

 

Cutout Values...            Choice       Select

Current Cutout Values:    212.61       199.91 

Change from prior day:     +0.13         -0.76

Choice/Select spread:        12.70

 

Futures Summary: 

Live cattle futures were mixed on Friday, with nearby April 80 cents higher as it rose 3.85% on the week. Feeder cattle futures were 15 to 70 cents higher, with April 2.99% higher since last Friday. The CME feeder cattle index was up 66 cents on April 12 at $136.42. Wholesale boxed beef values were mixed on Friday afternoon. Choice boxes were 13 cents higher at $212.61, with Select boxes down 76 cents at $199.91. Estimated FI cattle slaughter is at 605,000 head through Saturday. That is 10,000 below the previous week on lighter Saturday slaughter but up 16,000 head from the same week in 2017. Cash trade picked up after Friday’s close with sales of $120-121 reported, as a few reached $122. Managed money trimmed their cattle net long position to only 27,255 contracts as of Tuesday, down 9,395 from the previous week.

 

April Live Cattle Futures: 116.44... +0.69

June Live Cattle Futures: 103.65... -0.05

Aug Live Cattle Futures: 104.27... Unchanged

April Feeder Cattle Futures: 139.37... +0.50

May Feeder Cattle Futures: 140.37... +0.40

August Feeder Cattle Futures: 145.10... +0.15

CME Feeder Cattle Index: 136.42... +0.66

May Hog Futures: 69.70...+0.38

 

 National Grain Market Summary:

Compared to last week, cash bids for wheat and soybeans were higher, corn was mixed and sorghum was lower.   After Tuesday's WASDE report, Brazil's soybean crop estimate was increased to a record high 115.0 mmt (4.23 bb) while Argentina's estimate was cut from 47.0 mmt to 40.0 mmt (1.47 bb).  Ethanol production for week ending April 6th totaled 1.034 million barrels per day, 4,000 less than the week prior. Corn planting may remain slow to start with weather forecasts showing below average temperatures into the weekend for parts of the Corn belt.  USDA said last week's export sales and shipments of U.S. soybeans totaled 55.5 mb and 15.4 mb respectively, a neutral-to-bearish showing for the week with total shipments now down 13% from a year ago. It seems fair to say U.S. wheat exports aren't going to provide any bullish help to wheat prices in 2017-18. USDA said last week's export sales and shipments of wheat totaled 4.4 mb and 16.0 mb respectively, another bearish combination for the week. Total wheat shipments are now down 10% from a year ago and are making no dent in the heavy load of old-crop winter wheat supplies.  Wheat was higher from 9 1/4 to 53 1/4 cents higher.   Corn was mixed from 1/4 cent lower to 4 1/4 cents higher. Sorghum was 1 to 3 cents lower.  Soybeans were 29 1/2 to 36 1/2 cents higher.

 

Kansas City Corn: 3.73… -0.02

Kansas City Soybeans: 10.26… -0.01

Kansas City Wheat: 4.86... -0.12

May Corn Futures: 3.8625... -0.0250

May Soybean Futures: 10.5425…-0.0650

May Wheat Futures: 4.7250… -0.0850

 

Nearby Crude Oil Futures Contract: 67.39… +0.32

Dow Jones Industrial Average: 24,360.80... -122.25

NASDAQ: 7,106.65... -33.60

U.S. Dollar Index: 89.78... +0.01

 

National Feeder & Stocker Cattle Summary

RECEIPTS:       Auctions     Direct    Video/Internet   Total

This Week        205,400     53,300           18,600      277,300

Last Week        164,900     37,000                0           201,900

Last Year           209,400     50,800            5,400      265,600       

 

Compared to last week, feeder steers and heifers sold mostly steady to 5.00 higher.  Some auctions that were called sharply lower last week recovered and were called sharply higher this week due to stability in the market place.  The CME Cattle complex has been a driving force in the roller coaster ride of the last couple of weeks.  Whenever a news item comes out that the market takes as a bullish factor; another tid-bit of news comes about and a bearish tone overtakes the positive news.  Since last Friday's close, the Live Cattle contracts were mostly 1.78 to 2.30 higher, with nearby April being 4.85 higher as convergence with the negotiated trade in the feedlots is coming closer to fruition.  On Wednesday, fed cattle traded in the Southern Plains steady to 1.00 lower at 117.00 to 118.00.  This afternoon in Nebraska, some early live sales there traded at 122.00.  Analysts have been watching very closely the amount of cattle being purchased by packers the past few weeks.  Many producers are very diligent and staying current with their marketings as cattle in the Southern Plains have been gaining very well this winter.  The season has been very easy on the Kansas and TX/OK/NM feedlots, however in the Northern Plains, wet pens increase the cost of gains and decrease the yield on cattle that have had to slog through mud to get to the feedbunks.  The excessive winter moisture has brought about the question of how long will it take all the calf-feds to get through the pipeline this year. Producers have been eager to fill empty pens this week.

 

Late last Friday at Fort Pierre Livestock in Fort Pierre, SD five loads of steers weighing 809 lbs sold at 147.25.  On Wednesday at Hub City Livestock in Aberdeen, SD a load of steers weighing 794 lbs sold at 151.25.  Also on Wednesday at Bassett Livestock Auction in Bassett, NE a load of steers weighing 754 lbs sold at 157.00. On Thursday at Mitchell Livestock Auction in Mitchell, SD three loads of 901 lbs steers sold at 135.10.  On Thursday at Ogallala Livestock Auction in Ogallala, NE a load of 611 lb steers sold at 196.50 while two loads of 669 lb steers sold at 185.25.  A part load of replacement heifers in Bassett, NE weighing 778 lbs sold at 157.00.  Only the steer mates to these heifers within that same 50 lb weight group could even match the price received for the females. 

 

Packers have been accepting a generous margin for this time of year and the extra incentive to harvest 600K plus per week has bolstered bottom-lines for the companies.  Boxed beef has lost around 13.00 since the most recent high 3-4 weeks ago and in the face of adversity since the Easter holiday.  Grills need to be fired up in the Midwest and the Northeast to get the cutout to move up.  With Mother's Day, Memorial Day, Father's Day and Independence Day on the horizon, retailers are getting ready to start their spring and early summer procurement.  Winter Storm Xanto this weekend is expected to bring heavy snow and blizzard conditions from the Northern Plains to the Great Lakes and farmers are wondering if spring will ever get here this year.  Named winter storms have now included an "X" name and many across the Northern Plains and New England are not wanting to have a Winter Storm Yvonne; they are tired of being cold and wet.  Preliminary first quarter slaughter data has indicated heifer slaughter to be over 4 percent above a year ago and over 10 percent higher than the previous 3 year average.  Beef cow slaughter is over 10 percent higher than 2017 and around 19 percent above the previous 3 year average.  With all the drought locations in the United States currently, one could question just how much producers can hold on to the breeding herd with forage prices increasing exponentially this winter and spring. Auction volume this week included 58 percent weighing over 600 lbs and 44 percent heifers.

 

Thursday Auction Reports...

 

Tulia Livestock Auction - Tulia TX...

Receipts:  4059    Last Week:  2666    Year Ago:  2700

Compared to last week:  Feeder steers and heifers sold mostly steady to instances 2.00 higher.  Trade was active on good demand.  Fire dangers due to drought and high winds continued across the trading area.

 

 

Farmers & Ranchers Livestock - Salina KS...

Receipts:  5261    Last Week:  3093    Year Ago:  5890

Compared to last week: Steers 800-1000 lbs 1.00 higher; 800 lbs and under 1.00-5.00 higher limited comparable offering. Heifers 650-950 lbs mostly 2.00-4.00 higher on heavier supply;

 

 

Siloam Spring Livestock Auction - Siloam Spring AR...

Receipts:  1825          Last week:  1329            Last year:  1729

Compared to last week: Feeder steers and heifers mixed from 3.00 higher to 3.00 lower generally steady with several new crop calves in the offering some fleshy. Slaughter cows 5.00 lower. Slaughter bulls steady.

 

 

Ava Livestock Auction - Ava MO...

Receipts:  1247    Last Week:  804    Year Ago:  1297 

Compared to last week, steers and heifers under 600 lbs 2.00 to 5.00 higher, over 600 lbs not well tested.  Slaughter cows 2.00 to 4.00 lower. Slaughter bulls 2.00 to 3.00 lower.

 

 

Ozark Livestock Auction - Ozark AR...

Receipts:  637        Last week: 586        Last year: 702

Compared to last week: Feeders sold 3.00-11.00 higher, mostly 7.00 higher.Thin fleshed cattle suitable for grazing and Value Added calves sold with a 10.00-12.00 premium.

 

 

Columbia Livestock Auction - Columbia TN...

Receipts: 402        Last week: 240        Last year: 478

Compared to last week; Feeder Steers steady to 4.00 higher; Feeder Bulls Steady to 4.00 lower; Feeder Heifers 2.00-6.00 higher; Slaughter Cows  3.00-4.00 higher; Slaughter Bulls mostly steady.

 

 

Apache Livestock Auction - Apache OK...

Receipts:  1293    Last Week:  960    Year Ago:  2205

Compared to last week: Feeder steers 3.00-6.00 higher, feeder heifers 2.00-4.00 higher.  Steer calves 3.00-10.00 higher and heifer calves steady to 4.00 higher.

 

 

Woodward Wtd Avg Cattle - Woodward OK...

Receipts:  5350    Last Week:  2020    Year Ago:  5900

Compared to last week: Feeder steers steady to 3.00 higher. Feeder heifers steady to 4.00 higher. Steer calves steady. Heifer calves Steady to 1.00 higher.

 

 

Cattleman's Livestock Auction - Dalhart, TX...

Cattle and Calves:  2,360      Week ago:  1,135     Year Ago:  1,940

Compared to week ago:  Steer and heifer calves under 600 lbs firm to 2.00 higher.  Feeder steers and heifers over 600 lbs 3.00-4.00 higher compared to last weeks limited receipts.

 

 

Smithfield Livestock Auction - Smithfield NC...

Receipts:  755            Last Week: 480       Last Year: 463 

Compared to last week, slaughter cattle were mostly steady.  Feeder steers and heifers 300-400 lbs. were 4.00 to 8.00 higher with 500-600 lbs. calves steady.  Moderate demand and buyer activity.

 

 

Cullman Stockyard - Cullman AL...

Receipts:  1098    Last Week:  915    Year Ago:  1151

Compared to last week: Slaughter cows and bulls 2.00 to 3.00 higher. Feeder bulls and steers sold 3.00 to 5.00 higher. Feeder heifers sold 2.00 to 4.00 higher.

 

 

Toppenish, WA Livestock Auction - Toppenish WA...

Receipts:  1440    Last Week:  1400    Year Ago:  2600

Compared to last Thursday at the same market, stocker and feeder cattle weak in a light test, due in part to small bunches and singles being offered today. Trade active with good demand for all classes.

 

 

Greensboro Livestock Auction - Greensboro GA...

Receipts:  345    Last Week:  353    Year Ago:  341

Compared to one week earlier, slaughter cows unevenly steady, slaughter bulls mostly steady, feeder steers, heifer, and bulls lightly tested, steer calves lightly tested, bull and heifer calves unevenly steady,

 

 

Pratt Livestock Auction - Pratt KS...

Receipts:  4802    Last Week:  3561    Year Ago:  4309

*** Close *** Compared to last week: Feeder steers 750-950 lbs 3.00-6.00 higher. Feeder heifers 600-800 lbs and 900-950 lbs firm to 1.00 higher; 800-900 lbs 1.00-2.00 lower.

 

 

Senatobia Livestock Auction - Senatobia MS...

Receipts     This week    279       Last Week    226

Compared to last week slaughter cows no trend. Slaughter bulls trended 5.00 Higher. Feeder steers trended Steady. Feeder heifers trended Steady. Feeder consisted of 55 percent steers and 45 percent heifers.

 

 

San Angelo Cattle And Calf Auction - San Angelo TX...

Receipts:  951    Last Week:   879    Year Ago:  775

Compared to last week steer and heifer calves and yearlings weak to 1.00 lower.  Slaughter cows and slaughter bulls steady.  Stock cows and pairs steady.  Trading and demand moderate.  Quality mostly average to plain.

 


 

Although all information is from sources believed to be accurate & timely, The Cattle Range expressly disclaims all warranties, expressed or implied, as to the accuracy of any of the contents provided and shall not be liable for decisions or actions taken based on the data/information/opinions contained within.