Monday markets
Feeder cattle and live cattle futures climbed higher to start the week, supported by technical momentum and broader market optimism.
Live cattle futures were higher, up $1.47 to $203.95 on the April contract and up $2.27 to $199.07 on the June contract.
“As long as the equity market continues to show a positive direction, it’s likely the livestock complex will continue to trend higher,” wrote ShayLe Stewart, DTN livestock analyst, in her midday comments.
Cash trade for the day was less than 100 head, with no market trends noted.
Cash trade totaled 52,705 head for the week ending April 13. Live steers averaged $207.83, and dressed steers averaged $327.86.
“No bids or asking prices have surfaced in the cash cattle market, but trade will likely develop earlier this week as the market will be closed on Friday for Good Friday ahead of Easter Sunday,” Stewart said.
Slaughter for the day is estimated at 112,000 head, compared to 104,000 head a week earlier. Total slaughter for a week earlier is projected at 564,000 head.
Boxed beef prices were higher on 81 loads, up $1.41 on the Choice cutout to $335.63, and up $1.89 to $315.85 on the Select cutout.
Feeder cattle
Feeder cattle futures were also higher, up $2.87 to $288.05 on the April contract and up $2.25 to $280.95 on the May contract.
The CME Feeder Cattle Index lost $1.16 to close at $286.13.
“Traders are close to reaching the gap that was created when the tariff news broke, which could be a bit of a technical hurdle; but at this point traders don’t seem concerned about the pressure that may be ahead for the market,” Stewart said.
Corn futures were lower, down 5 cents to $4.85 on the May contract and down 4 cents to $4.92 on the July contract.
Missouri: Joplin Regional Stockyards in Carthage sold 8,000 head on Monday. Compared to a week earlier, feeder steers under 675 lbs. sold $10-30 higher with heavier weights selling $5-10 higher. Feeder heifers under 625 lbs. sold $15-25 higher with heavier weights selling $5-10 higher. Benchmark steers averaging 771 lbs. sold from $278-289, averaging $283.45.
Oklahoma: Oklahoma National Stockyards sold 3,693 head on Monday. Compared to the previous sale, feeder steers over 800 lbs. sold $4-10 higher, under 800 lbs. sold $20-25 higher. Feeder heifers sold $10-20 higher. Steer calves sold $4-10 higher. Heifer calves sold $20-30 higher. Benchmark steers averaging 771 lbs. sold from $286-299, averaging $292.27.
South Dakota: Sioux Falls Regional in South Dakota sold 2,809 head on Monday. Compared to a week earlier, feeder steers sold $3-5 higher and heifers sold $4-6 higher. Benchmark steers averaging 783 lbs. sold from $283-310, averaging $294.88. — Anna Miller, WLJ managing editor
