Friday markets
Cash cattle trade stayed quiet today, with a small volume of 2,57 head sold at $109. Dressed heifers sold for $170. A total of 15,400 head of formula cattle averaging 880 lbs. sold for $178.56.
“If boxed beef prices could have held strong through the end of the week, the cash cattle market might have had a chance of trading higher but with boxed beef prices scaling lower the cash market hasn’t been too lively through Friday’s trade,” remarked ShayLe Stewart, DTN livestock analyst, in her noon livestock comments.
Live cattle futures were down, with the December contract losing 73 cents to $108.88 and the February contract losing 18 cents to $112.40. The December contract is $11.33 lower than it was the same time last year, and the February contract is $12.58 lower.
Boxed beef prices took a dip today on 132 loads, with the Choice cutout losing $4.17 to $235.02 and the Select cutout losing $2.42 to $217.51. The day’s slaughter is estimated at 117,000 head and tomorrow’s slaughter at 69,000 head. To date, 598,000 head have been processed this week, a few thousand head below last year.
Feeder cattle
This week last year marks the first time the Tyson plant in Holcomb, KS, was open since the fire ceased its operations.
Feeder cattle saw some modest support earlier in the day, perhaps from the trending lower corn contracts, but ultimately closed mixed. The January contract was down 3 cents to $139.78 and the March contract down 10 cents to $139.43. The December corn contract lost 6 cents today, bringing it back down to $4.17. The latest reported CME Feeder Index was yesterday at $139.44, down 43 cents.
Farmers and Ranchers Livestock Commission Co. in Salina, KS, sold 2,493 head yesterday. Compared to its last sale, steers and heifers under 450 lbs. were $7-20 higher; steers and heifers 450-850 lbs. were $2-7 higher, with steers over 850 lbs. $1-3 lower and heifers over 850 lbs. $1.50 higher. Benchmark steers averaging 732 lbs. sold between $141.50-145.50, averaging $142.62.
Lamoni Livestock in Lamoni, IA, sold 2,300 head yesterday. There were no noted trends as there was no recent coverage for comparison. Demand was good for the moderate offerings and trade was active. Benchmark steers averaging 735 lbs. sold between $133.50-147.75, averaging $145.05. — Anna Miller, WLJ editor
