Friday markets
“Thus far, Friday has been another uneventful and mundane market as the contracts are seeing mixed interest from traders, and fundamentally the market is seeing signals too,” ShayLe Stewart, DTN livestock analyst, wrote in the midday comments.
Live cattle closed lower, with the December contract down 30 cents to $151.65 and the February contract down 50 cents to $154.37.
Cash trade was light, with 3,989 head selling between $152-154, averaging $152.85. Dressed steers averaged $241.47.
“The cash cattle market hasn’t seen any more support in its sector, so it’s most likely that this week’s business is done with,” Stewart said. “Throughout the week, Southern live deals have been marked at mostly $150, fully steady with last week’s weighted averages. Northern dressed sales have been at mostly $242, $2 higher than last week’s weighted averages.”
On the formula side, 29,200 head averaging 874 lbs. sold for $242.58.
Slaughter for today is expected to be 125,000 head, 1,000 head above last week. Saturday’s slaughter is projected to be 29,000 head, bringing the weekly total to 667,000 head.
Boxed beef closed lower on 119 loads, with the Choice cutout down $1.43 to $263.75 and the Select cutout down $1.16 to $231.90.
“Friday’s import data shared that, this week, fresh beef imports totaled 20,070 metric tons,” Stewart reported. “Leading the shipments of fresh beef into the United States were Australia, Canada and Mexico. Year to date, there has been 983,662 metric tons, which is 6% greater than last year.”
Feeder cattle
Feeder cattle closed mixed, with the November contract down 17 cents to $177.82 and the January contract up 20 cents to $179.62. The CME Feeder Cattle Index was down 64 cents to $176.99.
Corn closed slightly higher, with the December contract up a penny to $6.81 and the March contract up 2 cents to $6.86.
Kansas: Pratt Livestock in Pratt sold 3,251 head Thursday. Compared to the last auction, there were not enough feeder steers and heifers 700-950 lbs. for a market test. Steer calves 400-700 lbs. sold $5-8 higher, and high-quality weaned calves sold up to $20 higher. Heifer calves 400-700 lbs. traded steady to $4 lower. A group of steers averaging 786 lbs. sold between $161-170.50 and averaged $166.43.
Montana: Billings Livestock Commission Cattle Auction in Billings sold 3,728 head Thursday. Compared to the previous auction, yearling steers and heifers were too lightly tested to develop an accurate market trend. Steer calves under 600 lbs. sold mostly $5-20 lower. Steer calves over 600 lbs. sold unevenly from $7 lower to $8 higher. Heifer calves all sold steady to $10 lower. A group of steers averaging 725 lbs. sold between $173-182.50, averaging $179.99.
Nebraska: Valentine Livestock in Valentine sold 4,065 head Thursday. Compared to the last auction, 400-600 lb. steers traded unevenly steady, and 400-500 lb. heifers traded $2-11 lower. A group of steers averaging 727 lbs. sold for $186.50. — Charles Wallace, WLJ editor
