Monday markets
Due to the holiday, most of the markets were closed today. Cash trade was light, and slaughter levels were on par with last week but are still short of the ideal.
Futures were closed today.
Cash trade was inactive, with only 87 head sold. Dressed steers sold for $218. On the formula side, a total of 32,600 head averaging 888 lbs. sold for an average of $221.65.
Cash trade through Jan. 16 totaled 61,172 head. Live steers averaged $136.62, and dressed steers averaged $218.03.
Slaughter for the day is estimated at 113,000 head, the same as a week earlier. Last week’s slaughter is estimated at a reduced 621,000 head, due to reduced packer throughput.
“The list of reasons for the beef processing industry’s inability to process the available market ready cattle is a long one,” the Cattle Report wrote. “Plant closings, mechanical problems, fires, cyberattacks, weather, and most importantly labor woes, all have contributed to the problem. The result has been the lack of participation by the live sector in the oversized margins in the beef supply chain.”
Boxed beef prices continue to increase. On 108 loads, the Choice cutout gained $3.55 to close at $287.86, and the Select cutout gained $3.08 to close at $277.05.
Feeder cattle
Futures were closed today.
“Placement patterns may be altered by dry conditions in much of the plains. Weather will dictate cattle movements and winter moisture in the Northwest and Midwest has brought much needed relief. The Texas and Oklahoma Panhandles and parts of southwest Kansas remain extremely dry,” the Cattle Report wrote.
Missouri: Joplin Regional Stockyards in Carthage sold 5,000 head on Monday. Compared to a week earlier, feeder steers traded steady to $2 lower, and feeder heifers traded $2-8 higher. Benchmark steers averaging 727 lbs. sold between $159-165.50, averaging $160.87.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 15,500 head Monday. Compared to the previous sale, feeder steers and heifers sold mostly steady to $2 higher. Steer and heifer calves sold steady. A group of fancy steers averaging 761 lbs. sold between $166.50-168.50, averaging $167.43. — Anna Miller, WLJ managing editor
