|Daily Market Summary for Friday, February 23rd:|
|Updated daily Monday thru Friday around 4:00 PM CST|
Weekly Current & Projected Feedyard Closeout
Slaughter Cattle: Friday trading in the Southern Plains, Colorado and Western Cornbelt has been inactive on very light demand. In Nebraska trading has been limited on light demand. Not enough trades for a full market trend. In the Southern and Northern Plains the last fully reported market was on Wednesday. In these feeding regions live cash trades were at 128.00 and, in Nebraska, dressed cash trades were from 204.00-205.00. In the Western Cornbelt the last fully reported market was last week with live cash trades mostly from 129.00-130.00 and dressed trades at 205.00.
Negotiated Sales: Confirmed: 11,330 Week Ago: 25,170 Year Ago: 3,137
Purchases: Net - Dressed
Alberta Beef Producers Daily Report: Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 277.00 delivered. Initial sales are 1.00 higher than the previous week. Tentatively cash to futures basis levels did weaken this week but remain stronger than the five-year historical average. Some producers were looking for more money than what was being offered, the way things are looking producers will likely carry cattle into next week.
Slaughter under Federal Inspection:
Boxed Beef: Boxed beef cutout values steady on Choice and higher on Select on moderate to fairly good demand and light offerings. Select and Choice rib, chuck, and round cuts steady while loin cuts steady to firm. Beef trimmings unevenly steady on light demand and offerings.
Cattle Futures Summary:
February Live Cattle Futures: 128.00...-0.35
April Live Cattle Futures: 124.85...-0.52
June Live Cattle Futures: 116.80...Unchanged
March Feeder Cattle Futures: 146.00...Unchanged
April Feeder Cattle Futures: 148.50...+0.43
May Feeder Cattle Futures: 149.37...+0.25
CME Feeder Cattle Index: 147.63...-0.42
April Lean Hog Futures: 71.37...+0.10
National Grain Market Summary: Compared to last week, cash bids for corn and wheat were mixed, sorghum was lower, soybeans were higher. The soy complex continued to push higher most of the week. Given support from fund buying and ongoing weather concerns in South America. Ethanol production for last week totalled 1.068 million barrels per day, a 52,000 barrel per day increase from the week prior. Wheat was mixed from 112 cents lower to 19 1/2 cents higher. Corn was mixed from 9 cents lower to 5 cents higher. Sorghum was mixed from 15 cents lower to 3 cents higher. Soybeans were 4 3/4 to 12 3/4 cents higher.
Kansas City Corn: 3.52...Unchanged
Kansas City Soybeans: 10.06...+0.04
Kansas City Wheat: 4.64...-0.02
March Corn Futures: 3.6625...-0.0050
March Soybean Futures: 10.3625...+0.0425
March Wheat Futures: 4.5225...+0.0100
Nearby Crude Oil Futures Contract: 63.55...+0.78
Dow Jones Industrial Average: 25,311.09...+348.61
U.S. Dollar Index: 89.87...+0.16
Feeder & Stocker Cattle Summary
Compared to last week, steers and heifers sold uneven from 2.00 lower to 3.00 higher. Regular volume buyers were in attendance at sales this week as a winter storm dumped rain and ice across a good chunk of drought stricken terra firma in Oklahoma, Missouri and Iowa. Ranchers are more prepared to deal with snow and rain, but when ice comes that is a whole new beast. In addition, the calendar is now getting close to March and with that turn, the start of calving season is upon the beef cattle world. With the barometric pressure change, there may have been a few calves come early and rain coupled with mid 30 degree temperatures is not a good environment for a newborn calf to meet.
Feeder cattle were not following the fed cattle trade this week as some handsome prices were seen in several auctions this week. On Wednesday at Bassett, NE, a load of 719 lb replacement quality heifers sold at 183.50; higher than any steer mates in that weight group this week. In addition, a load of 777 lb sisters sold at that same sale for 173.00. On Wednesday in Green City, MO, a package of 525 lb steers suitable for grazing sold at 217.00. Also on Wednesday in St Joseph, MO, near 300 head of light 7-weight steers sold in a range of 170.25 to 175.00 for a weighted average of 173.47.
last week's 130.00 fed cattle trade, packers appeared to have sent out
new boxed beef bid sheets for this week. With the Choice boxed beef
cutout value rising nearly 8.50 this week to close at 218.37, packers were
glad to see the futures break on Wednesday and were not too proud to look
a gift horse in the mouth as they were expecting to pay steady money for
this week’s showlists. After a surprising limit down drop of the
April Live Cattle contract, some true hedgers contacted packers to try
and take advantage and put some unexpected extra dollars back in their
trading account. With that hurried contact, packers felt they were
in the driver’s seat and proceeded to buy fed cattle that were priced to
them at 128.00. This week’s strong gains in the cut-out value coupled
with the lower fed cattle trade will keep packer margins in very good shape
after this week’s trade.
Livestock Auction - Tulia TX...
& Ranchers Livestock - Salina KS...
Angelo Cattle And Calf Auction - San Angelo TX...
Spring Livestock Auction - Siloam Spring AR...
Livestock Auction - Ava MO...
Livestock Auction - Ozark AR...
Livestock Auction - Columbia TN...
Livestock Auction - Apache OK...
Wtd Avg Cattle - Woodward OK...
Livestock Auction - Dalhart, TX...
Livestock Auction - Smithfield NC...
Stockyard - Cullman AL...
WA Livestock Auction - Toppenish WA...
Livestock Auction - Greensboro GA...
Cambria Livestock Auction -New Cambria MO...
all information is from sources believed to be accurate & timely,