For what feels like the first time in ages, we had more than last-minute, Friday afternoon fat cattle trade.
There had been a fairly constant trickle of trade throughout the week, starting on Monday as (likely) carryover trade from the prior week’s averages of $128.22 live and $205.08 dressed. By close of trade on Thursday afternoon, almost 41,600 head of negotiated cash fed cattle had been confirmed sold for the week at relatively steady prices of $127-129 (avg. $128.06) live and $205 dressed.
The cutouts were also impressive last week, making steady gains that saw the Choice cutout close Thursday at $226.04 and the Select cutout close at $218.54.
Futures, on the other hand were not nearly as robust as cash cattle and beef were. The near-term live cattle contracts lost a net 60 cents over the course of the week to settle Thursday at $128.95 for April and 8 cents for June with $120.35.
The near-term feeder futures on the other hand spent the whole week losing value until surging over $2 during Thursday’s trade to settle at $142.90 for March and $146 for April.
“After shedding more than $3.50 over the past five trading sessions, feeder cattle futures seemed to finally experience some bargain-hunting buying interest during Thursday’s session, boosted right at the close with a sudden burst of volume in the April contract (the contract’s biggest trading day yet),” noted DTN’s Elaine Kub on Thursday afternoon.
The entire feeder futures board was in the green with all but the most deferred contract seeing triple-digit gains.
The cash feeder market was doing fairly well too. Though several surveyed auctions noted negative impacts of weather, prices remained relatively solid for benchmark medium and large #1 steers weighing between 700-800 lbs.
Colorado: The La Junta Livestock Commission Company sold over 2,700 head of cattle last week, almost double what it sold the week before. Prices on steer calves were steady to up $3 while heifer calf prices were steady to up $5. In both cases, preference was given to heavier calves. Yearlings sold steady. Two lots of #1, 7-weight yearling steers ranged from $140.50-145.50.
Kansas: The volume and some prices were up at the Winter Livestock Auction last week, with over 2,150 head sold, half again as many as the week before. Steers were $1-3 higher while heifers were steady to down $3. There were too few calves for much of a trend, but 5-weight heifer calves were up $1-2 on the few comparable sales that happened. Two lots of benchmark yearling steers sold between $138-146.
Missouri: After selling over 6,800 head the week before, last week’s sale at the Joplin Regional Stockyards was a minuscule 731 head, meaning there were no market trends. The spectacularly low turnout was credited to the double-digit negative wind chill that struck the area. Four head of #1, 722-lb. yearling steers sold for $141.
Nebraska: Volumes were relatively steady at the Huss Platte Valley Auction last week. Six-weight steers were steady, but heavier steers sold up $2-6. Heifers were steady to up $2. Demand was called good with a few cattle selling over the internet. Several lots of #1, 7-weight steers sold, ranging from $140 for 55 head of “fleshy,” 753-lb. yearlings to $157.25 for 286 head of 729-lb. steers.
New Mexico: The Clovis Livestock Auction sold almost half the number of cattle last week as it did the week before. Steer calves were called steady to weak, except for 5-weights, which were up $2-3. Older steers were $1-2 higher. Heifers were down $2, except again for 5-weights, which saw premiums of $5-6. Two lots of #1, 7-weight yearling steers sold between $135.50-146.
Oklahoma: The number of cattle sold last week at the OKC West-El Reno sale was less than half of what it was the week before. Nonetheless, prices on feeders were steady to up $1-4 on 8-weight steers. Calves were too lightly tested for a market trend. Demand was called good and quality was good to attractive. Benchmark steers ranged from $136-148.
South Dakota: Midweight steers were mixed up and down $3 with a preference for lighter animals at the Hub City Livestock Auction. Heifers saw a similar situation of up and down $4, with the largest advance seen on 6-weights. Demand was called good to very good on cattle that can be turned out on grass, and for the large loads of home-raised, backgrounded cattle. Several large loads of benchmark steers sold between $133-152.75.
Wyoming: The Riverton Livestock Auction sold feeder calves at an uneven steady on most, but instances of $4-8 higher on 500-lb. steers and down $3 on 600-lb. heifers. There were only 30 head of #1, 7-weight steers sold, at $140 and $147 for the heavy and light steers, respectively. — Kerry Halladay,WLJ editor
