Monday markets
The market ended the day lower, unable to find any gains on the board or in the countryside.
Live cattle futures were lower, down 35 cents on the April contract to $249.60 and down $1.27 on the June contract to $246.07.
“More than anything, it will be imperative that fundamental support remains evident for traders this week,” wrote ShayLe Stewart, DTN livestock analyst, in her closing comments.
Cash trade for the day was light, with less than 300 head sold. No market trends were noted. On the formula side, a total of 27,500 head averaging 948 lbs. averaged $396.40.
Cash trade for the week ending April 19 totaled more than 96,000 head. Live steers averaged $248.07, and dressed steers averaged $388.19.
Slaughter for the day is estimated at 97,000 head, compared to 104,000 head a week earlier. Total slaughter for last week is projected at 514,000 head.
Boxed beef prices were higher on 65 loads, up $2.50 on the Choice cutout to $383.56 and up $7.01 on the Select cutout to $383.61.
Feeder cattle
Feeder cattle futures were lower, down $2.45 on the April contract to $368.87 and down $4.17 on the May contract to $361.10.
The CME Feeder Cattle Index remained unchanged at $377.67.
Corn futures were modestly higher, up 3 cents on the May contract to $4.52 and up 2 cents on the July contract to $4.60.
“The feeder cattle complex was anxious throughout the day, and that trickled down and affected sale barns across the countryside, as well as lower trends were noted there, too,” Stewart said.
Missouri: Joplin Regional Stockyards in Carthage sold 7,500 head on Monday. Compared to a week earlier, at the mid-session, feeder steers and heifers sold $5-15 lower. Benchmark steers averaging 767 lbs. sold from $373-390, averaging $377.24.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 6,000 head on Monday. Compared to the last sale, at the mid-session, feeder steers sold mostly steady and feeder heifers sold $2-4 lower. Steer and heifer calves were lightly tested and unevenly steady. Benchmark steers averaging 778 lbs. sold from $367-388, averaging $379.09.
South Dakota: Sioux Falls Regional in Worthing sold 3,237 head on Monday. Compared to a week earlier, feeder steers 800-1,000 lbs. sold $2-8 higher and feeder heifers over 700 lbs. sold steady to $5 higher. Benchmark steers averaging 793 lbs. sold from $383.50-386, averaging $384.40. — Anna Miller Fortozo, WLJ managing editor
