Market Summary for Friday, December 15th:
Slaughter Cattle: Friday in the Southern Plains, Nebraska and the Western Cornbelt trading has been limited on moderate demand. In the Southern Plains and Nebraska a few early live cash trades were from 118.00-119.00 and early dressed trades were at 188.00 in Nebraska. In the Western Cornbelt a few early cash dressed trades were at 188.00. Not enough trades in these feeding regions for a full market trend. Thus far for Friday in Colorado trading has been at a standstill. The last full reported market was for the prior week. In the Southern Plains and Western Cornbelt live cash trades were at 117.00 with dressed trade in the Western Cornbelt from 186.00-188.00. For the prior week in Nebraska, live trades ranged from 117.00-118.00 with dressed trades at 187.00. For the previous week in Colorado live trades were from 118.00-118.50. ***Trade developed late Friday afternoon at $120.50 per cwt.
Negotiated Sales: Confirmed: 15,692 Week Ago: 4,234 Year Ago: 3,693
Purchases: Net - Dressed
Alberta Beef Producers Daily Report: Alberta direct cattle sales Thursday saw light trade develop with live sales steady to $1.00 lower than Wednesday, but still $2.00 higher than last week's weighted average price. Dressed sales so far this week have been reported from $257.00-263.00 delivered. Initial sales are $7.00-9.00 higher than the previous week. Buyers were indicating cattle bought this week could be lifted in one to two weeks. Stronger basis levels did encourage producers to market cattle.
Slaughter under Federal Inspection:
Boxed Beef: Boxed beef cutout values higher on Choice and weak on Select on light to moderate demand and moderate offerings. Select and Choice rib, chuck, round, and loin cuts steady to weak. Beef trimmings firm to higher on moderate demand and light offerings.
Cattle Futures Summary: Live cattle futures finished the Friday session $1.075 to $2.625 higher in the front months on higher cash cattle trade. Feeder cattle futures were up 80 cents to $1.50 in most contracts. The CME feeder cattle index on December 14 was up 9 cents to $154.40. Wholesale boxed beef values were mixed on Friday afternoon. Choice was up 83 cents at $201.87, with select 44 cents lower at $183.25. Estimated weekly FI cattle slaughter is at 630,000 head through Saturday, 6,000 head fewer than the previous week but 24,000 head larger than the same week last year. Cash trade picked up late Friday afternoon with sales of $119-120.50, up $2 from the previous week. Spec traders were shown as reducing their CFTC net long cattle position by 17,262 contracts during the week ending Tuesday. That net position was at 99,748 contracts as of 12/12.
December Live Cattle Futures: 118.90...+2.63
February Live Cattle Futures: 121.02...+1.87
April Live Cattle Futures: 122.15...+1.85
January Feeder Cattle Futures: 147.75...+1.50
March Feeder Cattle Futures: 145.55...+1.20
April Feeder Cattle Futures: 145.92...+1.22
Feeder Cattle Index: 154.40...+0.09
February Lean Hog Futures: 68.52...+0.90
National Grain Market Summary: Compared to last week, cash bids for corn, and wheat were mixed, sorghum and soybeans were lower. More favorable weather conditions in Argentina put pressure onthe soy complex this week. The next round of WASDE reports were released on Tuesday, putting pressure on all grain markets from changes in US and world ending stocks. World ending stocks of corn were increased from 203.86 mmt to 204.08 mmt, US ending stocks of soybeans were raised from 425 mb to 445 mb, and US ending stocks of wheat were raised from 935 mb to 960 mb. USDA’s export estimates for corn remained steady at 1.925 bb, with soybean export estimates lowered by 25 mb. Last week export sales of corn totaled 34.1 million bushels, soybeans totaled 53.4 million bushels, and wheat totaled 21.6 million bushels. All export sales figures could be viewed as bearish for last week. Wheat was mixed from 2 1/2 cents lower to 21 cents higher. Corn was mixed from 21 cents lower to 9 cents higher. Sorghum was 5 to 6 cents lower. Soybeans were 23 1/4 to 24 1/4 cents lower.
Kansas City Corn: 3.32...-0.01
Kansas City Soybeans: 9.29...-0.01
Kansas City Wheat: 4.00...-0.01
March Corn Futures: 3.4750...-0.0100
January Soybean Futures: 9.6725...-0.0050
March Wheat Futures: 4.1825...Unchanged
Nearby Crude Oil Futures Contract: 57.30...+0.26
Dow Jones Industrial Average: 24,648.47...+139.81
U.S. Dollar Index: 93.93...+0.24
Feeder & Stocker Cattle Summary
Compared to last week, steers and heifers traded mixed this week nationwide; from 4.00 lower to 5.00 higher and everything in between with the most common term in all market report trends is: "steady to" fill in the blank. Demand was good to very good at auctions this week as there were many more weaned calves this week with an overwhelmingly amount of those having a total preconditioning program. Most calves were sold in moderate flesh, however some light and some a little heavier at times. The mild weather has allowed these calves to easily maintain, and gain, body condition. With plenty of low cost feed, there were many buyers noted being in the seats geared up to buy cattle.
Fed cattle recovered some of last week's losses by trading 2.00 to 3.00 higher at 119.00 to 120.00 in the Southern Plains. Higher bids have been offered in the feedlots of the Northern Plains, however trade has not been established as of this writing. Steers are not the only items to talk about in this report as replacement heifers were in high demand at the Sheridan Livestock Auction in Rushville, NE on Wednesday. A half load of 617 lb heifers sold at 170.00; a load of 687 lb heifers sold at 192.00, with the weighted average of 187.50 on the replacement type heavy 6-weight heifers. Also a part load of 717 lb heifers sold at 180.50 or near $1300 per head.
Hay trading has picked up in the Plains states in recent weeks as demand has been good in areas where hay supplies are not as plentiful. The mild, open weather is helping to stretch hay supplies as cows are out grazing the corn stalk fields and Ole Man Winter has not reared his ugly head yet. The weather forecast continues to show above normal temps until next week when colder temps are expected to move in along with a couple chances of moisture. On Thursday, the US Drought Monitor was released and continues to show too many colors that producers don't need at this juncture in the year. The South, Midwest and High Plains have areas of short and long term extreme drought in their regions. The top 15 states in number of beef cows all have some type of intensity and impact of a drought this week.
When the cattle inventory report comes out in late January 2018, the number of beef cows in the main cattle states will be watched by analysts to see if producers are continuing to increase cow herds when facing these drought conditions in such a widespread area. Auction volume this week included 50 percent weighing over 600 lbs and 39 percent heifers.
Spring Livestock Auction - Siloam Spring AR...
Livestock Auction - Ava MO...
Livestock Auction - Ozark AR...
Livestock Auction - Tulia TX...
Livestock Auction - Columbia TN...
Livestock Auction - Pratt KS...
& Ranchers Livestock - Salina KS...
Livestock Auction - Apache OK...
Wtd Avg Cattle - Woodward OK...
Angelo Cattle And Calf Auction - San Angelo TX...
Livestock Auction - Dalhart, TX...
Livestock Auction - Smithfield NC...
Stockyard - Cullman AL...
WA Livestock Auction - Toppenish WA...
Livestock Auction - Greensboro GA...
Livestock Auction - Smithfield UT...
Livestock Auction - Senatobia MS...
Stockyard - Decatur AL...
all information is from sources believed to be accurate & timely,