Wednesday markets
Markets traded higher in all sectors today.
Live cattle prices were up around $1—The February contract was up 95 cents to $116.57 and the April contract up $1.02 to $122.22.
A total of 6,904 head traded on the cash market. Live steers sold between $114-114.25 and dressed steers sold between $180-181. A total of 15,400 head sold on formula, bringing $184.20 and averaging 872 lbs.
The Fed Cattle Exchange listed 1,199 head Wednesday, of which 409 head actually sold. Opening prices ranged from $112-113.50, and high bids ranged from $114-114.25. All purchased cattle came from Texas and sold for $114.25.
Boxed beef prices were mixed, with the Choice cutout up 46 cents to $240.75 and the Select cutout down 74 cents to $229.79 on 129 loads.
Slaughter processing was able to trend much higher than last week, with the day’s total estimated slaughter at 121,000 head.
Feeder cattle
Feeder cattle were also able to trade higher today. The March contract was up $1.80 to $140.37 and the April contract was up $2.15 to $144.75. The corn contract was also higher, gaining 5 cents to settle at $5.59.
“Largely the aggressive buyer demand throughout the countryside this week for feeders has pushed the market and encouraged higher trade amid modest corn gains,” remarked DTN Livestock Analyst ShayLe Stewart.
Montana: Miles City Livestock Commission Auction in Miles City sold 2,202 head Tuesday. The best test for steers was for 600-649 lbs., which sold mostly $1-3 higher. All other steer weights sold unevenly steady. Heifers 500-699 lbs. sold steady to $5 higher and all other heifers sold unevenly steady. Benchmark steers averaging 740 lbs. sold between $142-143. — Anna Miller, WLJ editor
