Daily Market Summary for Friday, February 23rd:
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Updated daily Monday thru Friday around 4:00 PM CST
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TCR's 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

Formula Purchases: Net - Dressed
Head count priced today: 22,400
Weighted avg weight:       865.00
Weighted avg net price:    205.83

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.

Livestock Slaughter under Federal Inspection:
                              Cattle      Calves    Hogs        Sheep
Friday  (est             108,000    2,000      448,000      7,000
Week ago (est)      115,000    2,000      443,000       7,000
Year ago (act)        109,000    2,000      384,000      6,000
Week to date (est) 549,000   10,000   2,250,000    37,000
Last Week (est)     575,000   10,000   2,293,000    37,000
Last Year (act)       554,000     9,000   2,146,000    35,000

Saturday   (est         23,000        0          123,000     2,000
Week ago (est)        21,000        0            89,000         0
Year ago (act)         20,000        0           122,000         0
Week to date (est) 572,000   10,000    2,373,000    39,000
Last Week (est)     596,000   10,000    2,382,000    37,000
Last Year* (act)     574,000    10,000   2,266,000     35,000
2018 YTD           4,734,000   83,000  18,835,000   287,000
2017 *YTD         4,630,000   81,000  18,481,000   290,000
Percent change       2.2%       1.9%         1.9%         -1.1%

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.

Cutout Values...            Choice        Select
Current Cutout Values:    218.37         212.82
Change from prior day:      -0.03           +0.76
Choice/Select spread:        5.55

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

NASDAQ: 7,337.39...+127.30

U.S. Dollar Index: 89.87...+0.16

National Feeder & Stocker Cattle Summary
RECEIPTS:    Auctions     Direct    Video/Internet     Total
This Week      222,100     44,900        39,000         306,000
Last Week      238,000     62,900         2,200         303,100
Last Year        235,200     57,700         1,400         294,300

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.  

After 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.
 
Thursday's Cold Storage report stated total red meat supplies in freezers were up 9 percent from the previous month and up 1 percent from last year. Total pounds of beef in freezers were up 2 percent from the previous month but down 7 percent from last year. Frozen pork supplies were up 16 percent from the previous month and up 8 percent from last year.  The domestic pork and total red meat production totals during January were new all-time record highs.  Friday's Cattle on Feed data was reported at 108 percent of a year ago; Placements - 104 percent; Marketings - 106 percent.  Auction volume this week included 64 percent weighing over 600 lbs and 43 percent heifers.

Thursday Auction Reports...
"Click" on individual auction links for complete report

Tulia Livestock Auction - Tulia TX...
Receipts:  2314    Last Week:  3207    Year Ago:  3225
Compared to last week:  Feeder steers and heifers sold 3.00 to 5.00 lower.  Trade was fairly active on moderate to good demand.  The trading area remains very dry and in much need of moisture despite a few showers in some fortunate areas.

Farmers & Ranchers Livestock - Salina KS...
Receipts:  2716    Last Week:  3852    Year Ago:  3817
Compared to last week: This week the area was hit with an ice storm and cold temps. Steers 700-1000 lbs 1.00-4.00 lower; 700 lbs and under steady undertone noted.

San Angelo Cattle And Calf Auction - San Angelo TX...
Receipts:  471    Last Week:   1735    Year Ago:  1109
Compared to last week steer and heifer calves and yearlings steady. Slaughter cows and slaughter bulls firm to 2.00 higher.  Stock cows and pairs not well tested.

Siloam Spring Livestock Auction - Siloam Spring AR...
Receipts:  325          Last week:  2274             Last year:  1869 
Compared to last week: Feeder steers 1.00-10.00 higher on a light test in some classes. Feeder heifers steady to 10.00 lower on a light test. Slaughter cows and bulls steady.

Ava Livestock Auction - Ava MO...
Receipts:  295    Last Week:  1187    Year Ago:  1233
Compared to last week, not enough steers and heifers for a good price comparison.  Slaughter cows 3.00 to 4.00 higher, slaughter bulls not well tested.  Demand moderate for calves, very good for slaughter cows, supply light.

Ozark Livestock Auction - Ozark AR...
Receipts:  728    Last week: 425    Last year: 415
Compared to last week:  Feeder steers under 600 bs sold 3.00 lower, over 600 lbs sold 3.00 higher.  Feeder heifers under 600 lbs sold 1.00-3.00 lower, over 600 lbs sold steady.

Columbia Livestock Auction - Columbia TN...
Receipts: 211          Last Week: 125          Last Year: 236
Due to inadequate receipts last week no trends could be established. Feeders: 193          Slaughter: 16          Replacements: 2 Slaughter cows made up 7 percent of the offering, slaughter bulls 1 percent, replacement cows 1 percent, and feeders 91 percent. The feeder supply included 57 percent steers,

Apache Livestock Auction - Apache OK...
Receipts:  240    Last Week:  2367    Year Ago:  2038
Compared to last week: A severe ice storm left roads nearly impassable, reducing todays receipts with no comparable sales. Supply included 49 percent over 600 lbs and 35 percent heifers.

Woodward Wtd Avg Cattle - Woodward OK...
Receipts:  4,472    Last Week:  7,176    Year Ago:  7,775
Compared to last week: Reduced receipts due to ice storm over the trade area.  This also limited demand.  Feeder steers 3.00-5.00 lower. Feeder heifers 1.00-4.00 lower, over 800 lbs steady.  Steer calves steady to 3.00 lower.

Cattleman's Livestock Auction - Dalhart, TX...
Cattle and Calves:  2258      Week ago:  2625      Year Ago:  2175
Compared to week ago:  Steer and heifer calves under 600 lbs firm, instances heifers calves 1.00-2.00 higher.  Feeder steers and heifers over 600 lbs 1.00-3.00 lower. 

Smithfield Livestock Auction - Smithfield NC...
Receipts:  583             Last Week: 544       Last Year: 676 
Compared to last week, slaughter cattle were mostly steady.  Feeder steers 300-400 lbs. were 3.00 to 4.00 higher with heifers and bulls steady. Good demand with moderate buyer activity.

Cullman Stockyard - Cullman AL...
Receipts:  670    Last Week:  558    Year Ago:  926
Compared to last week: Slaughter cows and bulls steady to 2.00 higher. Feeder bulls and steers sold 3.00 to 4.00 higher. Feeder heifers sold 2.00 to 3.00 higher.

Toppenish, WA Livestock Auction - Toppenish WA...
Receipts:  925    Last Week:  2020    Year Ago:  1540
Compared to last Thursday at the same market, not enough stocker or feeder cattle for an accurate market test, due in part to light receipts. Trade very active with good demand for all classes.

Greensboro Livestock Auction - Greensboro GA...
Receipts:  339    Last Week:  369    Year Ago:  319
Compared to one week earlier, slaughter cows 2.00 to 3.00 higher, slaughter bulls 7.00 to 9.00 higher, feeder bulls, feeder heifers, feeder steers lightly tested, bull calves,

New Cambria Livestock Auction -New Cambria MO...
 Receipts           Week Ago             Year Ago
   468                    1,963                    1,372
No true price comparison available on feeder cattle. Slaughter cows steady. Very light run this week as most consignors held off until next Thursday due to freezing rain off and on in the area over the past couple days.

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Updated daily Monday thru Friday around 4:00 PM CST

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

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