Daily Market Summary for October 19th...
Updated Monday thru Friday around 4:00 PM CT
10-Day & 60-Day Market Trendlines
Daily Market Summary for October 19th...
Friday trading has been very limited on light to moderate demand in all major feeding regions. Not enough trades in any price range for a full market trend. In the Southern Plains the last fully reported market was last week with live cash trades at 111.00. In Nebraska the last reported live cash trade market was on Thursday at 111.00. Wednesday was the last reported dressed cash trade market at 174.00. In Colorado Thursday was the last live cash trade market at 111.00 and dressed cash trades at 175.00. In the Western Cornbelt Wednesday was the last reported live and dressed cash trade market from 109.00-110.00 and 173.00-174.00, respectively.
Confirmed: 8,372 Week Ago: 7,168 Year Ago: 42,896
Formula Net - Dressed Steers & Heifers
Head count priced today: 19,500
Weighted avg weight: 851.00
Weighted avg net price: 176.11
Alberta Beef Producers Daily Report:
Alberta direct cattle sales Thursday saw no new trade to report. Most of the dressed sales this week have been reported 253.00 delivered. Compared to the past couple of weeks sale volumes are shaping up rather light. Fed prices have exhausted their four week price rally as weighted average prices are looking 1.00 lower. With the fall calf run in full gear some producers were indicating they would like to sell some fed cattle to make space for new calves.
Livestock Slaughter under Federal Inspection:
Cattle Calves Hogs Sheep
Friday (est 115,000 2,000 464,000 6,000
Week ago (est) 115,000 2,000 459,000 7,000
Year ago (act) 114,000 3,000 455,000 6,000
Week to date (est) 582,000 10,000 2,354,000 37,000
Last Week (est) 583,000 10,000 2,321,000 39,000
Last Year (act) 580,000 11,000 2,279,000 37,000
Saturday (est 43,000 0 235,000 1,000
Week ago (est) 56,000 0 168,000 0
Year ago (act) 53,000 0 188,000 0
Week to date (est) 625,000 10,000 2,589,000 38,000
Last Week (est) 639,000 10,000 2,489,000 39,000
Last Year* (act) 633,000 10,000 2,468,000 37,000
2018 YTD 26,207,000 442,000 98,322,000 1,588,000
2017 *YTD 25,570,000 402,000 96,185,000 1,542,000
Percent change +2.5% +9.9% +2.2% +3.0%
Boxed beef cutout values higher on moderate to good demand and light to moderate offerings. Select and Choice rib and loin cuts steady to firm while chuck and round cuts firm to higher. Beef trimmings mostly sharply higher on moderate to good demand and heavy offerings.
Cutout Values... Choice Select
Current Cutout Values: 207.93 194.24
Change from prior day: +1.11 +1.89
Choice/Select spread: +13.69
October Live Cattle Futures: 112.25… -0.82
December Live Cattle Futures: 116.77… -0.40
February Live Cattle Futures: 121.15… -0.22
October Feeder Cattle Futures: 154.65… -0.60
November Feeder Cattle Futures: 154.10… -0.32
January Feeder Cattle Futures: 148.75… -0.67
CME Feeder Cattle Index: 155.36… -0.14
December Hog Futures: 51.60… -0.70
Nearby Crude Oil Futures Contract: 69.12… +0.47
National Grain Market Summary:
Compared to last week, cash bids for wheat, corn, and sorghum were mixed, while soybeans were higher. Weather this week has been favorable for harvest, but it has made its impact felt most of all in soybean quality. Producers have expressed concerns of yield loss due to pods opening and dropping beans. USDA said last week's corn sales totaled 15.1 million bushels, the lowest so far in 2018-19, while 43.3 million bushels of corn shipments brought the 2018-19 total to 80% above a year ago. Soybean export sales and shipments totaled 10.8 and 42.5 million bushels respectively, putting total commitments down 21% from a year ago. Last week's wheat export sales and shipments totaled 17.5 and 18.0 million bushels respectively, with total shipments down 25% from a year ago. Wheat was from 34 1/4 cents lower to 7 cents higher. Corn was from a 1/2 cent lower to 9 1/2 cents higher. Sorghum was from 3 cents lower to 3 cents higher. Soybeans were 2 1/4 to 15 1/4 cents higher.
December Corn Futures: 3.6700… -0.0375
November Soybean Futures: 8.5675… -0.0675
December Wheat Futures: 5.1475… +0.0175
Kansas City Corn: 3.45… -0.06
Kansas City Soybeans: 8.10… -0.19
Kansas City Wheat: 5.16… +0.01
Dow Jones Industrial Average: 25,443.94… +61.77
S & P 500: 2,767.94… -1.13
NASDAQ: 7,449.03… -36.11
U.S. Dollar Index: 95.75… -0.24
RECEIPTS: Auctions Direct Video/Internet Total
This Week 270,300 25,400 27,700 323,400
Last Week 195,000 32,500 6,100 233,600
Last Year 305,200 36,300 18,500 360,000
Compared to last week, steer and heifer calves sold steady to 5.00 lower. Yearling steers and heifers sold steady to 3.00 lower. Receipts were much larger than last week as road conditions improved dramatically in certain areas as dryer and warmer weather permeated across the Plains. In the Northern Plains, calf runs are just getting started and high quality weaned calves are in demand. The demand for unweaned calves this week was moderate while demand for preconditioned and weaned calves was moderate to good. The lighter runs in recent weeks had northern backgrounders chomping at the bit to get those calves in yards or back out on grass. Great grazing conditions coupled with ample forage supplies, both growing and harvested, have moved calf runs in that area just a little later than normal. Snow and freezing temperatures early in the week has dissipated and warmer weather has appeared and let both farmers and ranchers get more outside work done before the temperatures move lower and stay there. Producers are hoping large temperature swings are in the past and won't surface the rest of the fall.
Yearlings are in demand this time of year as feedyards will try to get the new procurements in the processing plant prior to June becoming the front month on the CME. On Wednesday in St Joseph, MO, a load and a half of thin fleshed 765 lb steers sold at 176.75, while a half load of steers weighing 908 lbs sold at 157.00. Also on Wednesday at Bassett Livestock Auction in Bassett, NE three loads of 955 lb and another load of 965 lb steers sold at 156.75, or right around $1,500 per head. On Thursday in Ogallala, NE two large loads of 709 lbs heifers sold at 169.00. Last week marked the fifth consecutive week of live sales in the Southern Plains at 111.00. With packer margins continuing on the positive side, year-to-date cattle slaughter is 2.5 percent larger than a year ago. Packers continue to move boxed beef values higher as more beef eating holidays are coming up.
The October CME Live Cattle contract continues to run at a premium to cash cattle and near 150 certificates have been tendered for physical delivery of cattle so far this month. Not long ago, the cash-futures basis was on the other side and market players would not be inclined to tender. For the week, the front six month of CME Live Cattle contracts were 0.63 lower to 0.75 higher. The front six months of CME Feeder Cattle contracts were 0.05 to 1.92 lower. For the week, Choice cutout closed 5.22 higher at 207.93, while Select was 1.96 higher at 194.24. Friday's Cattle on Feed was reported at 105 percent of a year ago; placements at 95 and marketings at 96 percent respectively. The On Feed number of 11,400,000 head is the largest October 1 total since the data series began in 1996. Auction volume this week included 35 percent weighing over 600 lbs and 39 percent heifers.
Thursday Auction Reports...
Receipts: 1549 Last Week: 1190 Year Ago: 1537
Compared to last week, steer and heifer calves 3.00 to mostly 5.00 lower, except some front-end steer calves under 500 lbs steady, not enough yearlings to fully test the market. Slaughter cows and bulls 2.00 lower. Demand moderate to light, supply moderate. Not many takers for the high risk, un-weaned and short weaned calves, especially bull calves. Near 16 percent of receipts were replacement cows, slaughter cows and bulls. The feeder supply included 38 percent steers, 47 percent heifers, 14 percent bulls, with 17 percent over 600 lbs.
Receipts: 5368 Last Week: 1888 Year Ago: 5100
Compared to last week: Feeder steers steady. Feeder heifers 2.00 lower. Steer calves under 600 lbs. 4.00-6.00 higher. Heavier weights 3.00-4.00 lower. Heifer calves under 600 lbs. 2.00-5.00 higher, heavier weights 4.00-5.00 lower. Fill average few full. Demand moderate to good for all classes. Supply includes 58% over 600bs. 42% heifers.
Receipts: 3832 Last Week: 881 Year Ago: 1103
***Close*** Compared to last week: Limited comparable weights from last week's sale. No trend is available for steers due to limited testing from last week, but a higher undertone is noted with a few sharp increases on some loads. Feeder heifers steady to slightly lower on very limited comparable weights. A heavy supply of calves were offered, with a high undertone noted. Slaughter cows and bulls sold mostly steady with a slightly lower undertone noted. Overall, demand good to very good, quality average to mostly attractive. Feeder supply was 72 percent steers, 28 percent heifers, with 82 percent over 600 lbs.
Receipts This week 417 Last Week 246
Compared to last week slaughter cows trended Steady to 1.00 higher. Slaughter bulls no trend. Feeder steers trended Steady to 5.00 lower. Feeder heifers trended 2.00 to 6.00 Lower. Feeder consisted of 65 percent steers and 35 percent heifers. Receipts weighing under 600 lbs 70 percent over 600 lbs 17 percent. Total receipts were made up of 87 percent feeders, 11 percent slaughter cows and 2 percent Pairs/Replacements.
Receipts: 286 Last Week: 280 Year Ago: 169
Compared to last week; slaughter steers and heifers were mostly steady. A lower undertone was noted on slaughter cows and slaughter bulls based on a limited comparison. Feeder cattle consisted of 62% over 600 lbs. Slaughter cattle consisted of 47% steers, 25% heifers, 1% Holsteins, 6% cows, and 3% bulls.
Receipts: 1828 Last Week: 989 Year Ago: 2365
Compared to last Thursday: Feeder steers and heifers 3.00-5.00 higher, Good demand for feeder classes, Moderate to lite demand for the plainer fleshier calves. In the majority of instances weaned and vaccinated offerings bringing a premium are noted below as VALUE ADDED, while exceptional quality offerings are noted as FANCY. Slaughter cows 3.00-5.00 lower, Slaughter bulls steady, Moderate demand for slaughter cows.
Receipts: 1583 Last week: 2021 Last year: 2339
Compared to last week: Feeder steers sold 2.00-3.00 higher, heifers 3.00-4.00 higher, slaughter cows 8.00-10.00 lower, bulls 5.00-6.00 lower. Feeders: 1339 Slaughter: 190 Replacements: 54
Receipts: 210 Last Week: 783 Year Ago: 1720
Compared to last week not enough of any class to establish a market. Trading slow, demand light for rain shortened supply. Heavy rain has covered most of the surrounding area.
Receipts: 2029 Last week: 1840 Last year: 1784
Compared to last week: Feeder steers steady to 7.00 lower with the better 450-500lbs 14.00 lower. Feeder heifers steady to 4.00 lower with some of the plainer kind 5.00-10.00 lower. Feeder bulls under 500lbs 6.00-15.00 lower over 500lbs steady to 7.00 lower. Slaughter cows and bulls not reported today.
Receipts: 2029 Last week: 1840 Last year: 1784
Compared to last week: Feeder steers steady to 7.00 lower with the better 450-500lbs 14.00 lower. Feeder heifers steady to 4.00 lower with some of the plainer kind 5.00-10.00 lower. Feeder bulls under 500lbs 6.00-15.00 lower over 500lbs steady to 7.00 lower. Slaughter cows and bulls not reported today. Supply included about 1395 feeder calves, 200 feeder yearlings, and 434 cows and bulls. The feeder supply included 27 percent steers, 43 percent heifers, and 30 percent bulls. Near 14 percent of the run weighed over 600 lbs.
Receipts: 1005 Last week: 853 Last year: 1373
Compared to last week: Feeder steers were mixed, under 500 lbs sold 1.00-2.00 higher, 500-600 lbs 3.00 lower, 600-700 lbs sold 1.00 higher, over 700 lbs 5.00 lower. Feeder heifers sold steady to 6.00 higher, mostly 2.00 higher. Several groups of thin fleshed calves sold with a 10.00-15.00 premium. Slaughter cows and bulls sold steady.
Receipts: 6,385 Last Week: 1,955 Year Ago: 5,403
Compared to last sale: Yearling steers and heifers were too lightly tested this sale to develop any market trend. Steer calves weighing less than 400 lbs were too lightly tested to develop an accurate trend, however higher to sharply higher. 400-599 lbs steer calves sold mostly 2.00-4.00 lower, 600-699 lbs steer calves sold mostly steady to 3.00 higher. Heifer calves weighing less than 500 lbs. sold steady to 3.00 higher, 500-699 lbs heifers sold weak to 3.00 lower in a narrow comparison.
Receipts: 2260 Last Week: 2550 Year Ago: 2000
Compared to last Thursday at the same market, stocker and feeder cattle steady to firm. Slaughter cows 3.00-4.00 lower with an interest out of the market as supply exceeds demand. Slaughter bulls steady. Trade slow to moderate with light to moderate demand. Slaughter cows 63 percent, slaughter bulls 10 percent, and feeders 27 percent of the supply. The feeder supply included 61 percent steers and 39 percent heifers. Near 54 percent of the run weighed over 600 lbs.
Receipts: 6627 Last Week Ago: 2817 Year Ago: 4040
Compared to last week steer and heifer calves traded 2.00 to 4.00 lower. Had a nice run of yearling steers and heifers but no comparable trend to the short run last week. Within the feeder cattle supply 57 percent were steers and 43 percent were heifers with 23 percent weighing over 600 lbs.
Receipts: 973 Last Week: 1202 Year Ago: 897
Compared to a week ago: Slaughter cows sold 2.00 to 3.00 lower, slaughter bulls sold steady. Feeder bulls and steers sold 2.00 to 4.00 lower. Feeder heifers sold 3.00 to 5.00 lower. Replacement cows and pairs sold steady. Slaughter cows 3 percent, slaughter bulls 1 percent, replacement cows and pairs 7 percent, and feeders 89 percent. The feeder supply included 22 percent steers, 39 percent heifers, and 39 percent bulls. Near 20 percent of the run weighed over 600 lbs.
Receipts: 1518 Last Week: 842 Year Ago: 2099
Compared to last week: Feeder steers and heifers 3.00-6.00 lower in a limited test. Steer calves mostly 4.00-5.00 lower. Heifer calves steady to 5.00 lower. Quality fair to attractive with moderate demand. Supply included 32 percent over 600 lbs and 38 percent heifers. Slaughter cows 1.00-3.00 lower. Slaughter bulls steady. Packer demand moderate. Total of 271 cows and bulls sold with 65 percent going to packers
Receipts: 685 Last Week: 654 Year Ago: 603
Compared to one week earlier, slaughter cows and slaughter bulls steady to 3.00 lower, feeder steers and feeder bulls mostly steady, feeder heifers 2.00 to 4.00 lower, steer calves mostly steady, bull calves unevenly steady, heifer calves steady to 2.00 lower, replacement cows steady to 1.00 lower.
Receipts: 1097 Two Weeks Ago: 528 Last Year: 676
Compared to two weeks ago, slaughter cattle were mostly steady. Feeder steers were 4.00 to 8.00 higher with 300-400 lb. heifers 2.00 to 4.00 higher; 500-700 lbs. were steady; bulls were steady. Moderate demand and market activity. Heavy offerings with quality of cattle. average.
Receipts: 376 Last Week: 74 Year Ago: 276
No trends available due to market not reported last week. Slaughter cows 31 percent; slaughter bulls 3 percent; and feeders 66 percent. In the feeder supply, steers made up approximately 20 percent of the run; heifers 36 percent; bulls 38 percent; and replacements cows 6 percent. Feeders over 600 lbs totaled around 9 percent.
Receipts: 909 Last week: not reported Last year: 685
This sale was not reported last week therefore no trends could be established. Offerings included 594 Hereford influenced feeder cattle that were weaned a minimum of 45 days and had two rounds of respiratory vaccines. The loads lots below and the majority of cattle noted as Value Added were part of that offering.
87 hd, steers, 549 lbs, M&L 1-2, $143.00
124 hd, steers, 645 lbs, M&L 1-2, $153.00
114 hd, steers, 748 lbs, M&L 1-2, $151.00