Daily Market Summary for Friday, October 20th:

TCR's Weekly Current & Projected Feedyard Closeout

Slaughter Cattle: Thus far Friday negotiated cash trade and demand was moderate in the Southern Plains and Nebraska. Compared to Wednesday in the Texas Panhandle live purchases trade 1.00 higher at 111.00. In Kansas compared to last week, live purchases traded steady at 111.00. In Nebraska compared to last week, dressed purchases traded steady at 175.00. A few live purchases were reported from 110.00-111.00 however not enough for an adequate market trend. Last week live purchases in Nebraska traded at 111.50. Trade was light on moderate demand in Colorado and the Western Cornbelt. In Colorado a few early live purchases traded at 111.00, however not enough for an adequate market test. Last week in Colorado live purchases traded at 111.50. In the Western Cornbelt compared to last week, dressed purchases traded steady at 175.00. A few live purchases were reported at 110.00 however not enough for an adequate market trend. Last week live purchases in the Western Cornbelt traded from 110.00-111.00.

Negotiated Sales: Confirmed: 42,896   Week Ago: 10,534   Year Ago: 1,846

Negotiated Prices - Slaughter Steers & Heifers:
Live Basis            Steers                                   Heifers
Dressed Basis
No enough trade for a price trend.

Formula Purchases: Net - Dressed
Head count priced today: 13,800
Weighted avg weight:           874
Weighted avg net price:   176.39

Alberta Beef Producers Daily Report:  Alberta direct cattle sales so far this week have seen light trade develop with most of the dressed sales marked at 232.00 delivered. Initial sales are positioned at the top end of last week's trading range. Live sales and bids have been reported from 137.00-138.00 FOB lot which is right inline with last week's weighted average price. Tentatively cash to futures basis levels did strengthen and remain stronger than the five-year average.

Livestock Slaughter under Federal Inspection:
                             Cattle       Calves    Hogs          Sheep
Friday   (est            112,000     2,000      460,000         5,000
Week ago (est)      105,000     2,000       458,000        7,000
Year ago (act)        102,000     3,000       435,000        6,000
Week to date (est) 574,000   10,000    2,290,000       36,000
Last Week (est)     574,000    10,000   2,310,000       37,000
Last Year (act)       556,000   12,000    2,203,000       38,000

Saturday   (est         58,000        0            195,000         0
Week ago (est)        48,000        0            206,000         0
Year ago (act)         45,000        0            321,000         0
Week to date (est) 632,000    10,000    2,485,000      36,000
Last Week (est)     622,000    10,000    2,516,000       37,000
Period Last Year*  602,000    13,000    2,524,000       38,000
2017 YTD           25,568,00  402,000  96,206,000  1,542,000
2016 *YTD         24,176,00  372,000  93,563,000  1,612,000
Percent change       5.8%        8.0%        2.8%           -4.3%

Boxed Beef:  Boxed beef cutout values firm on moderate demand and light offerings. Select and Choice chuck, round, and loin cuts steady while rib cuts steady to firm. Beef trimmings firm on moderate to good demand and moderate offerings. 

Cutout Values...            Choice        Select
Current Cutout Values:    199.86        191.14
Change from prior day:      +0.29          +0.38
Choice/Select spread:         8.72

Cattle Futures Summary: Live cattle futures settled Friday with gains of 45 to 62.5 cents in the front months. Feeder cattle futures were 12.5 to 47.5 cents higher. The CME feeder cattle index was 29 cents lower at $154.79 on October 19.Wholesale beef prices were higher in this afternoon’s report. Choice was up 29 cents at $199.86, with select boxes 38 cents higher at $191.14. Weekly FI cattle slaughter is estimated at 632,000 head through Saturday, about 10,000 larger than the previous week and 30,000 head above the same week last year. Cash trade has ended the week at $111 in most regions, even with last week. This afternoon’s Cattle on Feed report showed on feed numbers 5.43% larger than last October 1 at 10.813 million head. That came from larger than expected placements at 2.15 million head, 13.46% above last September and September marketings at 2.94% greater than last year at 1.783 million head.

October Live Cattle Futures: 111.67...+0.47

December Live Cattle Futures: 116.60...+0.45

February Live Cattle Futures: 121.27...+0.62

October Feeder Cattle Futures: 153.62...+0.47

January Feeder Cattle Futures: 153.07...+0.30

Sept Feeder Cattle Futures: 151.32...+0.12

CME Feeder Cattle Index: 154.79...-0.29

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December Lean Hog Futures: 64.85...+0.60

National Grain Market Summary: Compared to last week, cash bids for grains were mixed with soybeans trading lower.  In NASS’s Crop Progress Report for the week ending October 15, 2017, corn harvest was estimated at 28 percent complete.  This is 16 points behind last year and 19 points under the 5-year average.  Soybean harvest was estimated at 49 percent complete, 10 points below last year and 11 points under the 5-year average.  On Monday, the NOPA crush report for September was released.  In September, a total of 136.4 million bushels of soybeans were crushed, which was 1.7 million bushels below estimates.  As harvest continues, farmers are being faced with the decision to store or sell their new crop bushels.  Farmers are faced with this decision every year; however, this year’s debate is gaining more attention as terminals have more inventory than in previous years and may not be able to take delivery of new crop bushels.  This may have farmers utilizing non-traditional storage methods throughout the interior marketplace.

Weekly export sales and shipments for wheat totaled 22.6 million bushels (mb) and 11.6 mb, respectively.  For corn, weekly export sales totaled 50.0 mb, with shipments at 13.4 mb.  Weekly export sales for soybeans totaled 46.9 mb and shipments totaled 68.0 mb.  These numbers, for wheat, corn, and soybeans, may be viewed as bearish, as all of the numbers are below the previous marketing year.  Wheat was 2 to 28 cents higher.  Corn was mixed from 5 cents lower to 3 cents higher, mostly steady.  Sorghum was steady.  Soybeans were 4 1/2 to 15 1/2 cents lower.

Kansas City Corn: 3.03...-0.06

Kansas City Soybeans: 9.29...-0.08

Kansas City Wheat: 3.53...-0.06

December Corn Futures: 3.4450...-0.0450

November Soybean Futures: 9.7875...-0.0775

December Wheat Futures: 4.2600...-0.0675

Nearby Crude Oil Futures Contract: 51.47...+0.18

Dow Jones Industrial Average: 23,328.36...+165.32

NASDAQ: 6,629.05...+23.98

U.S. Dollar Index: 93.69...+0.41

National Feeder & Stocker Cattle Summary
RECEIPTS:    Auctions     Direct    Video/Internet    Total
This Week     305,200     36,300        18,500        360,000
Last Week     254,500     32,300           900          287,700
Last Year      274,900     49,700           600          325,200

Compared to last week, steers and heifers sold very uneven from 4.00 lower to 4.00 higher as sales were all over the board and in between with some uneasiness over the amount of cattle on feed.  With last months industry miss in the placement number, the industry was abuzz that there may be deja vu all over again.  And sure enough, the COF and Marketing numbers were relatively close to industry expectations with a 105 and 103 put up by NASS, however industry analysts were amiss with the placement  number coming in at 113 percent of a year ago.  Feedyards and ranchers were wanting to own the higher quality stock this week as evidenced by some pretty lofty prices reported in Nebraska and South Dakota this week. On Wednesday at Bassett, NE a load of 703 lb yearling steers sold at 189.75 and two and a half loads of 907 lb steers at Hub City Livestock in Aberdeen, SD sold for 165.10.  The gavel fell on two loads of 423 lb reputation unweaned steer calves on Thursday at Ogallala, NE at 235.00 while a load of 507 lbs Thin fleshed steers sold in Valentine, NE for 206.25. 

The CME Live and Feeder Cattle contracts tumbled somewhat and the front two Live Cattlecontracts settled 0.50 to 1.15 lower.  The fed cattle contracts are being kept a little honest this month with the possibility of delivering fed cattle.  There have been 78 loads of fed cattle tendered for delivery, however the cattle for the most part have not been demanded when the cash fed cattle trade continues to trade near the October Live Cattle contract.  For the week, Boxed beef cutout values were firm to higher on mostly light to moderate demand and offerings. On the Choice side, the rib and loin primals had the highest gains while the chuck and round primals were steady to weak with the Choice Cutout closing at 199.86, just shy of the elusive 200.00 mark that was last seen on August 10. The strength of the rib primal upheld on Select while the chuck, round, and loin primals were steady to weak as the Select Cutout closed the week at 191.14. 73% and 81% fed ground beef were steady to firm while 50% beef trimmings ended the week higher. 

NASS's monthly Livestock Slaughter Report was released yesterday, with the average dressed weights in September for steers and heifers both higher than the previous month.  The average dressed weight for a steer in September was 896 pounds, 12 pounds higher than August and 9 pounds lower than last year.  The average dressed weight for a heifer in September was 819 pounds, 13 pounds heavier than last month and 5 pounds lighter than a year ago.  Last month's cattle slaughter was 3 percent higher than September 2016, with a slaughter total of 2.70 million head.   Auction volume this week included 36 percent weighing over 600 lbs and 39 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

Siloam Spring Livestock Auction - Siloam Spring AR...
Receipts:  1784          Last week:  NR             Last year:  778
Compared to two weeks ago: Feeder steers steady to 9.00 higher mostly 6.00-7.00 higher. Feeder heifers and bulls 1.00-5.00 higher except 550-600lb bulls 8.00 lower. Slaughter cows 2.00-3.00 lower.

Ava Livestock Auction - Ava MO...
Receipts:  1532    Last Week:  1559    Year Ago:  826
Compared to last week, steers and heifers steady to 5.00 lower. Slaughter cows and bulls 2.00 to 4.00 lower.  Demand moderate to good, supply moderate to heavy.  Near 08 percent of the receipts were replacement cows, slaughter cows and bulls.

Ozark Livestock Auction - Ozark AR...
Receipts:  1373          Last week: 1125                  Last year: NR
Compared to last week: Feeder steers under 400 lbs sold 8.00 lower; over 400 lbs sold 1.00-6.00 higher. Feeder heifers under 500 lbs sold 2.00-4.00 lower; over 500 lbs sold steady to 4.00 higher.

Senatobia Livestock Auction - Senatobia MS...
Receipts     This week    520       Last Week    256
Compared to last week slaughter cows trended Steady. Slaughter bulls no trend. Feeder steers trended 2.00 to 3.00 Higher. Feeder heifers trended 2.00 to 7.00 Higher. Feeder consisted of 78 percent steers and 22 percent heifers.

Tulia Livestock Auction - Tulia TX...
Receipts:  3051    Last Week:  3211    Year Ago:  2201
Compared to last week:  Yearling steers and heifers sold steady to 4.00 lower.  Steer and heifer calves sold 6.00 to 8.00 higher.  Trade was active on moderate to good demand.

Columbia Livestock Auction - Columbia TN...
Receipts: 685        Last week: 360         Last year: 627
Compared to last week, Feeder Steers under 600 lbs. steady to 5.00 Higher, over 600 lbs. 8.00-9.00 lower; Feeder Bulls mostly steady to 4.00 lower; Feeder Heifers 3.00-10.00 lower; Slaughter Cows 3.00-5.00 Lower; Slaughter Bulls 2.00-4.00 lower.

Smithfield Livestock Auction - Smithfield NC...
Receipts:  676             Last Week:  740      Last Year: 547
Compared to last week, slaughter cattle were 2.00 to 3.00 lower.  Feeder cattle were 4.00 to 6.00 lower.  Moderate demand, buyer activity and offerings.  Quality of cattle average.

Cullman Stockyard - Cullman AL...
Receipts:  966    Last Week:  1066    Year Ago:  897
Compared to last week: Slaughter cows and bulls sold 2.00 to 3.00 higher. Feeder bulls and steers sold 2.00 to 3.00 lower. Feeder heifers sold 2.00 to 4.00 lower. Replacement cows and pairs sold steady.

Pratt Livestock Auction - Pratt KS...
Receipts:  1103    Last Week:  2584    Year Ago:  2857
Compared to last week: Feeder steers 750-900 lbs 9.00-10.00 lower, 900-950 lbs 3.00 lower on a light test of Medium and Large 1. Feeder heifers 6.00 lower on a light test of Medium and Large 1.

Farmers & Ranchers Livestock - Salina KS...
Receipts:  2305    Last Week:  3448    Year Ago:  2083
Compared to last week: Steers 800-950 lbs 2.00-10.00 lower; 800 lbs and under lower undertone noted in a limited supply. Heifers 700-950 lbs 1.00-5.00 lower; 700 lbs and under lower undertone noted in a limited supply.

Apache Livestock Auction - Apache OK...
Receipts:  2099    Last Week:  2942    Year Ago:  1634
Compared to last week: Feeder steers 1.00-2.00 higher, feeder heifers 2.00-3.00 lower.  Steer calves weighing 400-500 lbs 1.00-7.00 higher,  500-600 lbs 2.00-3.00 lower.  Heifer calves 2.00-4.00 lower.  Quality good to attractive.

Woodward Wtd Avg Cattle - Woodward OK...
Receipts:  5100    Last Week:  6866    Year Ago:  3950
Compared to last week: Feeder steers steady to 4.00 lower. Feeder heifers 2.00-4.00 lower. Steer calves steady to 4.00 lower. Heifer calves 2.00-4.00 lower.

Toppenish, WA Livestock Auction - Toppenish WA...
Receipts:  2000    Last Week:  2120    Year Ago:  1700
Compared to last Thursday at the same sale, stocker and feeder cattle weak to 3.00 lower. Trade active with moderate to good demand. Slaughter cows and bulls steady to weak. Trade active with moderate to good demand.

San Angelo Cattle And Calf Auction - San Angelo TX...
Receipts:  1720    Last Week:   2478    Year Ago:  919
Compared to last week feeder steers and heifers firm to 2.00 higher. Slaughter cows and slaughter bulls steady.  Stock cows and pairs steady. Trading fairly active, demand good.  Quality full range from attractive to plain.

Cattleman's Livestock Auction - Dalhart, TX...
Cattle and Calves: 2916      Last Week: 3025      Year Ago:  2750
Compared to last week:  A large percentage of the calf offerings were unweaned and fleshy kinds compared to last weeks large offering of pre-conditioned calves.  Those pre-conditioned kinds were mostly steady to weak while fleshy kinds right off their mothers were 2.00-.00 lower.

Greensboro Livestock Auction - Greensboro GA...
Receipts:  276    Last Week:  259    Year Ago:  343
Compared to one week earlier, slaughter cows 4.00 to 5.00 lower, slaughter bulls unevenly steady, feeder steers, feeder bulls, feeder heifers and steer calves lightly tested, bull calves mostly steady to 2.00 higher, heifer calves 5.00 to 7.00 higher,

Ft. Pierre Livestock Wtd Avg Report - Ft. Pierre SD...
Receipts:  4,890    Last Week:  3,597    Year Ago:  5,974
Compared to last Wednesday’s special black hided calf sale: Steer calves 5.00 to 8.00 lower, instances to 10.00 lower on those under 450 lbs.  Heifer calves 3.00 to 5.00 lower, instances to 8.00 lower on those under 400 lbs.

Updated daily Monday thru Friday around 4:00 PM CST

Additional reports at "Market Reports" & "Auction Results"

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