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Daily Market Summary for January 24th

Updated Monday thru Friday around 4:00 PM CT

See Entire Summary Below


Daily Market Indexes & Trendlines
Indicators of cattle/beef market strength

10-Day Index Trendline

Compared to Previous Day: -0.32%
Compared to 10 Days Ago: -1.80%
Compared to 60 Days Ago: -0.83%​
   

60-Day Index Trendline

Indexes track daily market values for the past 10 & 60 days.
Each daily value is the weighted total of the Gain/(Loss) for
15 market factors compared to the previous trading day.

 

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Weekly Market Summary

 

Daily Market Summary for January 24th

   
Slaughter Cattle:
As of 3:00 PM Friday, negotiated cash trade was limited on light demand in Nebraska and the Western Cornbelt. Trade was inactive on light demand in the Southern Plains. Not enough purchases in any feeding region for an adequate market test. The latest established market in the Southern Plains was on Wednesday with live purchases at 124.00. On Thursday in Nebraska, live purchases traded at 124.00 with dressed purchases at 199.00. In the Western Cornbelt on Thursday, live purhcases traded from 124.00-126.00, bulk at 125.00 with dressed purchases mostly from 198.00-199.00, few up to 199.50.
    
Negotiated Sales:
Confirmed:     2,607
Week Ago:      7,928
Year Ago:      65,173
     
Formula Net
Dressed Steers & Heifers:
Head count priced today: 21,900
Weighted avg weight:       868 lbs.
Weighted avg net price:   197.04
         
Cattle Slaughter under Federal Inspection:
Friday (est)                        122,000
Week ago (est)                  116,000
Year ago (act)                    117,000
Week to Date                    612,000
Same Period Last Week   604,000
Same Period Last year     585,000
Previous Day (est)
Steers & Heifers:  96,000
Cows & Bulls:        26,000
                                                                                                               
Boxed Beef:
Boxed beef cutout values weak to lower on light to moderate demand and moderate offerings. Select and Choice rib, chuck, and round cuts steady to weak while loin cuts steady to firm. Beef trimmings sharply lower on light demand and offerings.
Cutout Values:
Choice: 214.49… -0.83
Select:  210.70… -0.50
Choice/Select Spread: 379
Total Load Count:  100
     
Cutter Cow Cutout:
186.95… -0.23
    
CME Feeder Cattle Index:
144.82… -0.02
    
Futures…
Live Cattle:
February: 124.85… +0.18
April: 124.30… +0.13
June: 116.02… -0.30
    
Feeder Cattle:
January: 141.85… -0.92
March: 139.67… -0.85
April: 142.50… -0.97
      
March Hogs: 67.22… -1.28
February Crude Oil: 54.19… -1.40
    
March Corn: 3.8725… -0.0650
March Soybeans: 9.0200… -0.0750
March Wheat: 5.7350… -0.0700
    
Grain Cash Bids:
Kansas City Corn: 3.96… -0.07
Kansas City Soybeans: 8.90… -0.07
Kansas City Wheat: 5.66… -0.07
    
Financial Markets:
DJIA: 28,989.73… -170.09
S & P 500: 3,295.45… -30.05
NASDAQ: 9,314.91… -87.57
U.S. Dollar Index: 97.88… +0.19

    

National Feeder & Stocker Cattle Summary

RECEIPTS:      Auctions      Direct      Video/Internet      Total
This Week:     220,600       39,600          36,800                297,000  
Last Week:     281,400       49,300          61,700                392,400  
Year Ago:      186,800       34,800           32,100                 253,700   
   
Compared to last week, steers and heifers in the Southeast were steady to 2.00 higher, while those in other areas were steady to 3.00 lower.  The market was the most active on the lightweight cattle, in light flesh, as numbers of those cattle are not as plentiful as their heavier mates.  Wintry weather conditions have been seen in several states this week as receipts were curtailed.  The temperatures dropped considerably last weekend with some areas well below zero.  Couple that with dangerous winds topping in the 50-60 mph area made for terrible conditions.  Farmer feeders in the Midwest were ready to buy cattle this week as cattle appeared to take the weather in stride and hardened up in the extreme winter conditions.  In Missouri this week, very few auctions were held in the in the north half of the state and by mid-week even those in the south were being affected by the winter weather.  Transporting cattle was not the easiest thing to do and many ranchers were mostly concerned with mainly getting cattle fed in the harsh conditions. 
   
The cattle futures had a rough week, which did add pressure to the market on the heavier cattle suitable only for finishing.  For the week, Feeder Cattle futures are 3.50 to 5.37 lower, while the Live Cattle contracts were 1.50 to 3.18 lower.  This week’s fed cattle market was established at steady on Wednesday and Thursday at 124.00 live in the North and South Plains and dressed sales in Nebraska being traded at 199.00.  On Thursday, the monthly Livestock Slaughter report revealed what many industry analysts have been watching the last half of the year.  While Federally Inspected (FI) steer slaughter was 2 percent below the previous year and 3-year average, heifer slaughter was nearly 7 percent above a year ago and nearly 16 percent larger than the 3-year average.  Couple that with FI beef cow slaughter being almost 6 percent above a year ago and nearly 15 percent above the 3-year average, leaving no doubt that ranchers have been moving the factory through the red meat pipeline in 2019.  Horrible conditions in the late winter and early spring of 2019 left many cows without calves in Nebraska and the Dakotas.  Flooding also played a role this year in many areas and producer anecdotes of many open cows when pregnancy checking was completed in the fall. 
   
An open cow is one that can drain resources from a producer’s pocketbook, and they are not willing to wait around another year to 18 months to get a return on that investment.  Record high red meat and pork production was reported for the month of December at 4.73 billion pounds and 2.44 billion pounds, respectively.  Total preliminary FI hog slaughter for 2019 is being reported at a record 129.2 million, more than 4 percent above a year ago and 7 percent above the previous 3-year average.  In addition, the daily FI hog slaughter is now only a stone’s throw away from being a half million (500,000 head).  Cattle Slaughter under FI estimated at 647K for the week, 16K more than last week and 39K more than a year ago.  On the week, Choice cutout closed 0.32 higher at 214.49, while Select was 2.05 lower at 210.70; putting the Choice-Select spread at 3.79.  Cold Storage Report for December was released Wednesday with total red meat supplies in freezers were up 1 percent from the previous month and up 5 percent from last year. Total pounds of beef in freezers were up 1 percent from the previous month but down 3 percent from last year. Frozen pork supplies were up 1 percent from the previous month and up 15 percent from last year.  Auction volume this week included 49 percent weighing over 600 lbs and 43 percent heifers.

  

Thursday Auction Reports...

Pratt Livestock Auction - Pratt KS
                         This Week   Last Reported
Total Receipts: 1,530               4,276
Compared to last week: Feeder steers sold mostly steady to 2.00 higher using limited comparable weights. Feeder heifers limited offerings; higher undertone noted. Not enough calves for an accurate market trend. Overall, demand good to very good, quality average to attractive. Slaughter cows sold 3.00 to 4.00 higher. Not enough bulls last week for a market test, higher undertone noted. Supply included: 85% Feeder Cattle (66% Steers, 34% Heifers); 3% Slaughter Cattle (90% Cows, 10% Bulls); 12% Replacement Cattle (100% Bred Cows). Feeder cattle supply over 600 lbs was 82%.
   
Bluegrass Stockyards South - Stanford KY
                        This Week   Last Reported
Total Receipts: 1,724             2,377
Compared to last Thursday: Feeder steers 5.00-8.00 higher with instances of 10.00-15.00 higher on lite weights, Feeder heifers steady to 2.00 higher, Very good demand for steer classes and good demand for heifer classes. Slaughter cows 4.00-6.00 higher, Slaughter bulls 2.00-4.00 higher, Good demand for slaughter classes. Supply included: 95% Feeder Cattle (52% Steers, 1% Dairy Steers, 42% Heifers, 5% Bulls); 5% Slaughter Cattle (79% Cows, 21% Bulls); 0% Replacement Cattle (100% Stock Cows). Feeder cattle supply over 600 lbs was 75%.
  
Mitchell Livestock Auction – Mitchell SD
                        This Week   Last Reported
Total Receipts: 6,303             4,110
Compared to last week: Feeder steers up to 700 lbs. sold steady to 1.00 higher, steers over 700 lbs. sold steady to 4.00 lower. Feeder heifers up to 800 lbs. sold steady to 1.00 higher, feeder heifers over 800 lbs. sold unevenly stead. Today we had one consignment of 550 head of NHTC feeder cattle bringing top dollar. Demand was good. A few load lots of heavy heifers. The next feeder cattle auction will be Jan. 30th, expecting 5000-5500 head of feeders, starting at 9:00 am. Supply included: 100% Feeder Cattle (50% Steers, 50% Heifers). Feeder cattle supply over 600 lbs was 81%.
   
Woodward Wtd Avg Cattle - Woodward OK
                        This Week   Last Reported   Last Year
Total Receipts: 3,016              3,016               3,016
Compared to last week: Feeder steers and heifers traded 2.00-4.00 lower on limited offerings. Steer and heifer calves were too lightly tested for an accurate trend. Demand moderate to good. Quality average to mostly attractive. Winter storms came across the trade are hampering livestock movement. Supply included: 100% Feeder Cattle (49% Steers, 49% Heifers, 2% Bulls). Feeder cattle supply over 600 lbs was 74%.
   
Tulia Livestock Auction - Tulia TX
                        This Week   Last Reported
Total Receipts: 1,338              1,855
Compared to last week: Feeder steers and heifers weighing under 700 lbs were fully steady; yearlings over 700 lbs sold steady to 3.00 lower. Trade activity was moderate on moderate to good demand. Feed yards remain full and only moderate at best demand for cattle. Slaughter cows and bulls sold 2.00 to 5.00 higher, with instances much higher on high dressing cows. Supply included: 98% Feeder Cattle (55% Steers, 43% Heifers, 2% Bulls); 2% Slaughter Cattle (94% Cows, 6% Bulls). Feeder cattle supply over 600 lbs was 64%.
   
Paris Stockyards - Pairs KY
                        This Week   Last Reported
Total Receipts: 1,982             2,331
Compared to last week feeder steers sold steady with good demand, feeder heifers sold 2.00-3.00 higher. Buyers showed good interest in weaned and pre-conditioned cattle. Slaughter cows and bulls sold 2.00-3.00 higher. Supply included: 89% Feeder Cattle (51% Steers, 44% Heifers, 5% Bulls); 8% Slaughter Cattle (83% Cows, 17% Bulls); 3% Replacement Cattle (95% Bred Cows, 2% Bred Heifers, 3% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 49%
   
Farmers & Ranchers Livestock - Salina KS
                        This Week   Last Reported
Total Receipts: 2,154               3,611
Compared to last week: Steers 850-1000 lbs steady to 1.00 higher; 850 lbs and under higher undertone noted. Heifers 750-950 lbs 1.00-2.00 lower; 750 lbs and under lower undertone noted with instance of 8.00 higher. Trade and demand moderate. Supply included: 100% Feeder Cattle (61% Steers, 39% Heifers). Feeder cattle supply over 600 lbs was 82%.
   
Hope Livestock Auction - Hope AR
Feeder steers 3.00-6.00 higher. Feeder heifers 2.00-4.00 higher. Slaughter cows 3.00-5.00 higher. Slaughter bulls not well tested. Receipts were limited again this week due to weather. Quality was average. Supply included: 88% Feeder Cattle (56% Steers, 38% Heifers, 6% Bulls); 12% Slaughter Cattle (94% Cows, 6% Bulls). Feeder cattle supply over 600 lbs was 7%.
   
I-40 Livestock - Ozark AR
                      This Week   Last Reported
Total Receipts: 257               737
Compared to last week: Light run due to very muddy conditions in area and with not all classes represented; Feeder steers and heifers under 500 lbs sold 1.00-6.00 lower, over 500 lbs sold steady to 5.00 higher. Slaughter cows and bulls sold 4.00-6.00 higher. Supply included: 76% Feeder Cattle (44% Steers, 38% Heifers, 19% Bulls); 12% Slaughter Cattle (85% Cows, 15% Bulls); 12% Replacement Cattle (83% Stock Cows, 17% Bulls). Feeder cattle supply over 600 lbs was 13%.
   
Valentine Livestock Auction - Valentine NE
                        This Week   Last Reported
Total Receipts: 1,105             4,940
Special Bred Female Sale started the day with liquidations and dispersion offerings, followed by several lots of first calf heifers bred Feb to Mar. Rain and snow in the area most of the day. Next Auction Date Jan. 30th Supply included: 100% Replacement Cattle (42% Bred Cows, 58% Bred Heifers).
   
Stoney Pike Livestock Auction - Logansport IN
                       This Week   Last Reported
Total Receipts: 206                360
Compared to last week, slaughter steers were 1.00 higher with slaughter heifers 1.00 to 2.00 higher with active bidding. Holstein slaughter steers were 1.00 higher today. Cows were 1.00 to 4.00 higher and bulls too few to compare. All classes of feeder were calves were too few to compare this week. Supply included: 9% Feeder Cattle (28% Steers, 39% Heifers, 33% Bulls); 91% Slaughter Cattle (29% Steers, 20% Dairy Steers, 38% Heifers, 12% Cows, 1% Bulls, 1% Dairy Heifers). Feeder cattle supply over 600 lbs was 61%.
   
Ogallala Livestock Auction Market - Ogallala NE
                       This Week   Last Reported
Total Receipts: 5,215            6,785
Compared to last week, steers were 1.00 - 4.00 higher, except 700 lb were 3.00 lower. Heifers were steady - 5.00 lower except 550 lb heifers were 6.00 higher. Demand was good on all weights offered. Supply included: 100% Feeder Cattle (55% Steers, 45% Heifers). Feeder cattle supply over 600 lbs was 45%.
   
Apache Livestock Auction - Apache OK
                        This Week   Last Reported
Total Receipts: 1,097              2,403
Compared to last week: Feeder steers 2.00 to 4.00 lower, feeder heifers 1.00 to 2.00 lower. Steer calves 3.00 to 6.00 lower. Heifer calves steady to 5.00 lower. Quality fair to attractive with weak demand. Slaughter cows 1.00 to 3.00 higher. Slaughter bulls 1.00 higher. A total of 120 cows and bulls sold with 65 percent going to packers. Supply included: 89% Feeder Cattle (56% Steers, 42% Heifers, 2% Bulls); 7% Slaughter Cattle (58% Cows, 42% Bulls); 4% Replacement Cattle (95% Bred Cows, 5% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 57%.
   
Arcadia Livestock Auction - Arcadia FL
                       This Week   Last Reported   Last Year
Total Receipts: 1,050             1,641                1,197
Compared to last week: Slaughter cows and bulls steady. Feeder classes mostly steady. Supply included: 75% Feeder Cattle (54% Steers, 42% Heifers, 4% Bulls); 25% Slaughter Cattle (90% Cows, 10% Bulls). Feeder cattle supply over 600 lbs was 14%.
   
Greensboro Livestock Auction - Greensboro GA
                      This Week   Last Reported
Total Receipts: 315                182
Compared to a week ago: Slaughter cows 8.00 to 10.00 higher, slaughter bulls mostly steady, feeder calves lightly tested, replacement cows lightly tested. Supply included: 31% Feeder Cattle (4% Steers, 38% Heifers, 58% Bulls); 61% Slaughter Cattle (97% Cows, 3% Bulls); 9% Replacement Cattle (100% Bred Cows). Feeder cattle supply over 600 lbs was 3%.
  
Billings Livestock Commission - Billings MT
                       This Week   Last Reported
Total Receipts: 1,930              2,739
Compared to last sale: Yearling steers and heifers were too lightly tested to develop any market trend. Demand for yearlings remains mostly good. Feeder steers and heifer calves were all too lightly tested last sale to develop an accurate market trend, however steady undertones were noticed. Quality this week was mostly plain to average. Demand was mostly light to moderate for light offerings. Market activity this week was mostly moderate. Weigh up cows sold on mostly good demand. Packers were very active this week as they pushed to purchase the majority of cows in the offering. Slaughter cows sold mostly 3.00-6.00 higher on all classes. The cutter cow cutout continues to inch higher. Notably, many bred cows sold to packers to feed or to send to intimidate harvest this week as packer demand was strong enough to purchase lower quality bred cows away from ranchers this sale. The cutter cow cutout as of today's close was 187.18, 0.42 higher than Wednesdays. Feeding cows sold mostly 5.00 higher. Slaughter bulls sold steady to firm in a narrow comparison. Young age cows suitable to re-breed sold generally steady this week. Supply included: 38% Feeder Cattle (40% Steers, 54% Heifers, 6% Bulls); 19% Slaughter Cattle (91% Cows, 9% Bulls); 43% Replacement Cattle (88% Stock Cows, 12% Bred Cows). Feeder cattle supply over 600 lbs was 52%.
   
San Angelo Cattle Auction - San Angelo TX
                       This Week   Last Reported
Total Receipts: 1,045              1,852
Compared to last week steer and heifer calves and yearlings 2.00-4.00 higher. Slaughter cows fully 1.00-3.00 higher; slaughter bulls’ firm to 1.00 higher. Stock cows and pairs firm in light test. Trading fairly active, demand good. Supply included: 87% Feeder Cattle (46% Steers, 50%  Heifers, 4% Bulls); 8% Slaughter Cattle (88% Cows, 13% Bulls); 5% Replacement Cattle (52% Stock Cows, 41% Bred Cows, 7% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 22%.
   
Norwood Livestock Auction - Norwood NC
                      This Week   Last Reported
Total Receipts: 748                648
Compared to last week, slaughter cattle were 2 to 3 higher. Feeder cattle were mostly 4 to 10 higher. Demand was very good; market activity and buyer interest were active. Offerings of cattle were moderate. Cattle quality was attractive. 2 goats Supply included: 74% Feeder Cattle (27% Steers, 45% Heifers, 28% Bulls); 23% Slaughter Cattle (87% Cows, 13% Bulls); 3% Replacement Cattle (5% Stock Cows, 76% Bred Cows, 19% Cow-Calf Pairs). Feeder cattle supply over 600 lbs was 10%.
  
Benton County Sale Barn – Siloam Springs AR
                       This Week   Last Reported
Total Receipts: 273              3,438
Compared to two weeks ago: Feeder steers mostly steady to 3.00 higher except the 400-500 lbs 3.00-12.00 lower on a very light test in most classes. Feeder heifers under 400 lbs 2.00-5.00 lower over 400 lbs mostly steady to 1.00 higher on a light test. No trend on cows and bulls not reported two weeks ago however the cows and bulls were active and strong on the limited supply. Supply included: 84% Feeder Cattle (35% Steers, 46% Heifers, 19% Bulls); 14% Slaughter Cattle (87% Cows, 13% Bulls); 2% Replacement Cattle (20% Stock Cows, 80% Bred Cows). Feeder cattle supply over 600 lbs was 17%.