Friday markets
The markets were closed today in observance of the Good Friday holiday, but cash trade was sharply higher.
Cash trade was light, with 3,017 head sold. Live steers sold between $212-214, and dressed steers sold for $335.
“Despite today being a holiday, there will likely be additional sales of cattle,” the folks at the Cattle Report wrote. “Yesterday’s forced trade was sharply higher, but volumes were less than expected according to the afternoon roundup on mandatory price reporting. Sales in Texas and Kansas were mainly at $210, and northern sales were $212-213. Dressed sales in the North are noted at $333-335, mostly at $335. Next week is expected to push slaughter volumes higher, requiring more cattle to be purchased this week.”
Yesterday’s Cattle on Feed report showed cattle and calves on feed for feedlots with a capacity of 1,000 or more head totaled 11.6 million head on April 1, down 2% from year-ago. Placements rose 5.1% during March, while marketings increased 1.1%.
Today’s slaughter is estimated to be 89,000 head. Saturday’s slaughter is projected to be 10,000 head, bringing the weekly total to an estimated 576,000 head.
Box beef prices were lower on 101 loads, with the Choice cutout down $1.38 to $331.52 and the Select cutout down 84 cents to $315.55.
The CME Feeder Cattle Index was up $5.54 to $293.57.
Kansas: Winter Livestock in Pratt sold 2,766 head on Thursday. Compared to the last auction, feeder steers 800-975 lbs. sold $2-4 higher. Steers 450-800 lbs. sold unevenly steady, but fancy and reputation steers sold $10-20 higher. Feeder heifers 800-975 lbs. sold $4-8 higher. Heifers 450-800 lbs. sold unevenly steady, but fancy and reputation heifers sold up to $10 higher. Benchmark steers averaging 743 lbs. sold for $284-294, averaging $284.42.
South Dakota: Mitchell Livestock in Mitchell sold 2,297 head on Thursday. Compared to the previous auction, lightweight steers sold unevenly steady and 800-1,050 lbs. sold $8-11 higher. A lower undertone was noted on light heifers, and 800-950 lbs. sold steady to $4 higher. Benchmark steers averaging 741 lbs. sold for $302-310, averaging $309.52.
Texas: Cattlemen’s Livestock in Dalhart sold 1,021 head on Thursday. Due to last week’s short turnout out an accurate trend could not be established. Benchmark steers averaging 744 lbs. sold for $281-290, averaging $285.38. — Charles Wallace, WLJ contributing editor
