Friday markets
“Old man winter continues to cast snow and frigid temperatures across the U.S., but that isn’t hindering the livestock contracts. Heading into the afternoon, the live cattle, feeder cattle and lean hog futures are all higher with ample support,” remarked ShayLe Stewart, DTN livestock analyst in her midday comments.
Live cattle were able to find some momentum and saw gains of $1-2. The February contract was up $1.87 to $117.20 and the April contract was up $2.05 to $125.17.
Cash cattle trade was at about the same level as the rest of the week, with 8,539 head trading around the $114 mark. Dressed steers sold between $180-182. On the formula side, a total of 8,600 head averaging 889 lbs. sold for $183.44.
“Feedlots are playing their cards wisely as they know packers need cattle and with the Dodge City [KS] plant back in production next week more cattle will be needed to help meet demand,” Stewart said.
Boxed beef prices were mixed: The Choice cutout was down 59 cents to $232.37 and the Select cutout was up 64 cents to $220.93 on 125 loads.
Today’s slaughter is projected at 109,000—several thousand head behind schedule due to the Cargill Dodge City plant down for maintenance. Tomorrow’s slaughter is also expected to be smaller, with only 41,000 head slaughtered.
Feeder cattle
Feeder cattle contracts were also in the green today. The March contract was up $1.70 to $140.85 and the April contract was up $1.35 to $144.72. The latest CME Feeder Cattle Index was reported down 15 cents to $135.34.
March corn lost a couple pennies, bringing the contract down to $5.38.
South Dakota: Mobridge Livestock Exchange in Mobridge sold 3,889 head yesterday. Compared to two weeks ago, the best test for steers was on six-weights, which sold $2 higher; 750-800 lbs. sold steady to $1 higher. The best test was on heifers 500-550 lbs. and 600-650 lbs., which sold steady to $3 lower. Benchmark steers averaging 723 lbs. sold between $143-153.75. — Anna Miller, WLJ editor
