Market Summary for Friday, October 20th:
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
Prices - Slaughter Steers & Heifers:
Purchases: Net - Dressed
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.
Slaughter under Federal Inspection:
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.
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
Feeder Cattle Index: 154.79...-0.29
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
U.S. Dollar Index: 93.69...+0.41
Feeder & Stocker Cattle Summary
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.
Spring Livestock Auction - Siloam Spring AR...
Livestock Auction - Ava MO...
Livestock Auction - Ozark AR...
Livestock Auction - Senatobia MS...
Livestock Auction - Tulia TX...
Livestock Auction - Columbia TN...
Livestock Auction - Smithfield NC...
Stockyard - Cullman AL...
Livestock Auction - Pratt KS...
& Ranchers Livestock - Salina KS...
Livestock Auction - Apache OK...
Wtd Avg Cattle - Woodward OK...
WA Livestock Auction - Toppenish WA...
Angelo Cattle And Calf Auction - San Angelo TX...
Livestock Auction - Dalhart, TX...
Livestock Auction - Greensboro GA...
Pierre Livestock Wtd Avg Report - Ft. Pierre SD...
all information is from sources believed to be accurate & timely,