Daily Market Summary for May 24th...

Updated Monday thru Friday around 4:00 PM CST

See Entire Summary Below


10-Day & 60-Day Market Trendlines
Indicators of cattle/beef market strength

10-Day Market Trendline

Change from Previous Day: +0.12%
Change from 10 Days Ago: -3.21%
Change from 60 Days Ago: -1.53%
60-Day Market Trendline

Trendlines track daily market factors for the past 10 & 60 days.
Each daily factor is the weighted total of the Gain/(Loss) for
12 market indicators compared to the previous trading day.

 

Upcoming Sales...


 


 

Weekly Market Summary

 

Daily Market Summary for May 24th...

 

Slaughter Cattle:

Thus far Thursday, trade was mostly inactive on light demand in all feeding regions. Not enough trades for a market trend. Last week in the Texas Panhandle live trades were from 115.00-116.00. In Kansas live trades moved from 114.00-117.00. For the prior week in Nebraska live trades were from 112.00-115.00 and dressed trades moved from 180.00-185.00. In Colorado live trades were from 112.00-113.00. For the previous week in the Western Cornbelt live trades ranged from 112.00-122.00 and dressed trades, on a light test, were mostly at 184.00.

 

Negotiated Sales:

Confirmed: 1,738    Week Ago: 12,800    Year Ago: 15,066

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,000
Weighted avg weight:       843.00
Weighted avg net price:    186.61

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported in the low 240's on a delivered basis. Bids are positioned at the bottom end of last week's trading range. Buyers have been calling and making inquiries suggesting they need to buy some cattle this week. There seem to be much less panic to sell cattle this week versus last week. 

 

Livestock Slaughter under Federal Inspection:

                                  CATTLE     CALVES   HOGS      SHEEP
 Thursday (est         121,000    2,000      459,000      8,000
Week ago (est)       120,000    2,000      446,000      8,000
Year ago (act)         117,000    1,000      444,000      9,000
Week to date (est) 479,000    8,000   1,833,000    32,000
Last Week (est)      474,000    8,000   1,826,000    30,000
Last Year (act)        469,000    7,000   1,770,000    32,000

 

Boxed Beef: 

Boxed beef cutout values lower on Choice and steady on Select on light to moderate demand and moderate offerings. Select and Choice rib and round cuts steady to weak while chuck cuts weak to lower. Choice loin cuts steady while Select higher. Beef trimmings higher on moderate demand and light offerings.
 
Cutout Values...            Choice       Select
Current Cutout Values:  229.00       204.93
Change from prior day:    (1.08)         (0.11)
Choice/Select spread:      24.07

 

Futures Summary: 

Live cattle futures were down 35 cents to $1.05 on the day. Feeder cattle futures were mostly lower, with May expiring higher at $136.40. The CME feeder cattle index was up $1.01 on May 23 at $134.44. Wholesale boxed beef values were lower this afternoon. Choice boxes were down $1.08 at $229.00, with Select boxes 11 cents lower at $204.93. Week to date FI cattle slaughter was estimated at 479,000 head through Thursday. That is 5,000 head larger than last week. Analysts are expecting to see May 1 cattle on feed at 11.535 million head, 4.9% larger than last year. The Cattle on Feed report is scheduled for Friday morning at 11 AM CDT. Export sales of beef were reported at 9,854 MT, a 10.1% drop from last week but 37.9% larger than last year. Actual exports totaled 16,137 MT, 18.72% larger than last year. Cash trade was fairly quiet, with a few light reports of $114-115 sales.

 

CME Feeder Cattle Index: 134.44… +1.01
June Live Cattle Futures: 104.40… (1.05)
August Live Cattle Futures: 101.77… (1.03)
October Live Cattle Futures: 105.25… (0.50)
May Feeder Cattle Futures: 136.40… +1.50
August Feeder Cattle Futures: 143.30… (0.05)
September Feeder Cattle Futures: 143.10… (0.20)
June Hog Futures: 74.82… +0.22

 

National Grain Market Summary:

Compared to yesterday, cash bids for corn, wheat, and soybeans were lower, while sorghum was not quoted today.  Early Thursday, USDA said last week's export sales and shipments of corn totaled 33.6 and 57.8 million bushels respectively, a neutral showing for the week that has total corn shipments down 12% in 2017-18 from a year ago as of May 17.  Soybean shipments totaled 33.2 million bushels for the week, a bearish combination that has total shipments now down 11% in 2017-18 from a year ago.  Last week's export sales and shipments of old-crop wheat totaled 4.1 and 13.3 million bushels, another bearish showing for the week.

 

July Corn Futures: 4.0425… (0.0425)
July Soybean Futures: 10.3575… (0.0350)
July Wheat Futures: 5.3025… (0.0075)
Kansas City Corn: 3.95… (0.04)
Kansas City Soybeans: 10.26… (0.01)
Kansas City Wheat: 5.39… (0.03)
 
Nearby Crude Oil Futures Contract: 70.71… (1.13)
Dow Jones Industrial Average: 24,811.76… (75.05)
NASDAQ: 7,424.43… (1.53)
U.S. Dollar Index: 93.78… (0.17)

 

Wednesday Auction Reports...

 

Springfield Livestock Auction - Springfield MO...
Receipts           Week Ago             Year Ago
 1,972                 1,731                      2,190
Compared to last week, steer calves steady to 5.00 higher, heifer calves steady to 5.00 lower, no recent good test of yearlings for a price comparison.  Holsteins compared to two weeks ago, 5.00 to 10.00 lower. Demand and supply moderate.
 
St. Joseph Feeder Cattle Auction - St. Joseph MO...
Receipts           Week Ago             Year Ago
 1,390                 1,652                        976
**CLOSE***  Compared to last week, feeder steers sold mostly 4.00- 8.00 higher, while feeder heifers sold mostly steady to 4.00 higher.  Trade activity and buyer demand moderate to good.  Quality above average.
 
Clovis Livestock Auction - Clovis NM...
Receipts:  1324       Last Week:  2048        Year Ago:  1170
Compared to last week:  Feeder steers and heifers under 700 lbs 7.00-12.00 higher most advance on 300-400 lbs.  Over 700 lbs steady to 3.00 higher on limited, comparable quotes.  Slaughter cows and bulls 2.00-3.00 higher.  Trade active, demand good.
 
OKC West - El Reno OK...
Receipts           Week Ago             Year Ago
 10,373                12,390                 12,629
** Final report *** Compared to last week:   Feeder Steers under  900 lbs 8.00-10.00 higher, over 900 lbs 5.00 higher.  Feeder heifers sold 4.00-7.00 higher.  All heifers quoted as Value Added are Spayed.  Demand good to very good for feeder cattle.  Quality plain thru attractive.
 
Southern Oklahoma Livestock Auction - Ada OK...
Receipts:  1,190    Last Week:  1,957    Year Ago:  2,576
Compared to last week: Steer and heifer calves steady on comparable sales. No recent test for comparison on yearlings. Overall quality mostly plain to average. Demand was moderate for all classes.
 
Green Forest Livestock Auction - Green Forest AR...
Receipts:  1043          Last week:  901           Last year:  NR
Compared to last week: Feeder steers under 600 lbs mostly steady to 6.00 higher with the better 450-500 lbs 4.00 lower, and 600-650 lb yearlings 9.00 higher.  Feeder heifers steady to 2.00 higher except the 500-600 lbs 1.00-3.00 lower.
 
Savannah Cattle Auction - Savannah TN...
Receipts: 659     Last week: 923     Last year: 930
Compared to the same sale last week, Slaughter cows 1.00 higher. Bulls steady. Steers under 600 lbs 3.00 to 10.00 higher, over 600 lbs steady. Heifers under 600 lbs 3.00 to 9.00 higher, over 600 lbs steady to 2.00 higher.
 
Russell Springs Livestock Auction - Frankfort KY...
Receipts: 610    Last week: 681    Last year: 871
Compared to last week: Feeder steer and heifer calves steady. Yearling steers and heifers 2.00 lower. Slaughter cows and bulls 2.00 to 4.00 higher. 3 replacement cattle, 30 slaughter cattle, 577 feeder cattle.
 
Lucedale Livestock Auction - Lucedale MS...
Receipts     This week    890       Last Week    1,140
Compared to last week slaughter cows trended Steady. Slaughter bulls trended Steady. Feeder steers trended 1.00 to 8.00 Higher. Feeder heifers trended 1.00 to 10.00 Higher. Feeder consisted of 60 percent steers and 40 percent heifers.
 
Norwood Livestock Auction - Norwood NC...
Receipts:  663          Last Week: 731       Last Year: 590
Compared to last week, slaughter cattle were mostly steady with bulls mostly 5.00 higher.  Feeder cattle were mostly steady to 3.00 lower.  Moderate demand, buyer activity and offerings.
 
Athens Livestock Auction - Athens GA...
Receipts:  584    Last Week:  588    Year Ago:  745
Compared to one week earlier, slaughter cows unevenly steady, slaughter bulls unevenly steady, feeder bulls unevenly steady, feeder heifers 2.00 to 4.00 higher, feeder steers lightly tested, bull calves steady to 2.50 lower,
 
Vienna Livestock Auction - Vienna MO...
Receipts: 2355     Week Ago:  2076    Year Ago:  884
Compared to last Wednesday, feeder steers under 650 lbs steady, over 650 lbs 3.00-6.00 higher. Feeder heifers 5.00-10.00 higher. Slaughter cows 2.00-3.00 higher. Supply heavy. Near 4 percent of the offering were cows and 33 percent of the feeders were over 600 lbs.
 
Roanoke Stockyard - Roanoke AL...
Receipts:  930    Last Week:  663    Year Ago:  1143
Compared to a week ago: Slaughter cows sold 1.00 to 3.00 higher. Slaughter bulls sold 5.00 higher. Replacement cows and pairs sold steady. Feeder classes sold unevenly steady. The supply consisted of 6 percent slaughter cows, 2 percent bulls,