Friday markets
Markets were closed today on account of Good Friday. However, a notable amount of cash trade took place today.
A total of 25,294 head traded between $117-121. Dressed steers sold between $186-190. On the formula side, 24,100 head averaging 847 lbs. sold for $185.83.
“Most years mark April as the seasonal high in cash markets for cattle. This year may represent a counter-seasonal move that will find cash prices moving higher well into summer,” remarked the folks at the Cattle Report.
“The support will come from all directions and include healthy export demand, consumers flush with government handouts, and a reopening economy with restaurants that are restored to pre-pandemic activity. Most important will be a slowly expanding beef processing machine that will force more competition for cattle supplies.”
Slaughter for the day is estimated at 105,000 head, on account of the holiday. Tomorrow’s slaughter is projected at 33,000 head, as some plants will be closed in advance of Easter. Total slaughter for the week is estimated at 609,000 head, about 40,000 head behind the same time last week.
Boxed beef prices are higher on account of Easter demand: The Choice cutout was up $2.88 to $252.85 and the Select cutout was up $2.27 to $246.97.
Kansas: Winter Livestock in Pratt sold 7,238 head yesterday. Compared with last week, feeder steers 800-975 lbs. sold $3-4 higher; 650-800 lbs. sold $1-3 lower. Steer calves 375-650 lbs. sold $4-8 lower. Feeder heifers 600-975 lbs. sold $1-2 higher; five-weights sold $2 lower. Heifer calves 375-500 lbs. sold $4-6 higher. Benchmark steers averaging 786 lbs. sold between $138.50-148. — Anna Miller, WLJ managing editor
