Monday markets
“It was a fruitful day for the livestock contracts as the markets closed higher thanks to greater trader interest and support,” wrote ShayLe Stewart, DTN livestock analyst, in her closing comments.
Live cattle futures were higher, up $1.22 on the April contract to $248.30 and up $1.72 on the June contract to $245.22.
“With the added support of stronger boxed beef prices and the hope that fed cash cattle prices will trade higher this week as well, traders were bold throughout Monday’s market,” Stewart said.
Cash trade for the day was light, with about 245 head sold. There were no market trends noted. On the formula side, a total of 21,300 head averaging 942 lbs. sold for an average of $398.41.
Cash trade for the week ending April 26 totaled 68,158 head. Live steers averaged $246.25, and dressed steers averaged $386.23.
Slaughter for the day is estimated at 106,000 head, compared to 97,000 head a week earlier. Total slaughter for a week earlier is projected at 529,000 head.
Boxed beef prices were higher on 94 loads. The Choice cutout gained $2.56 to close at $389.56, and the Select cutout gained $2.53 to close at $388.60.
Feeder cattle
Feeder cattle futures were higher, up $1 on the April contract to $367.62 and up $2.02 on the May contract to $360.90.
The CME Feeder Cattle Index lost 68 cents to close at $369.32.
Corn futures were lower, down half a penny on the May contract to $4.55 and down 2 cents on the July contract to $4.63.
“Demand has been strong in the countryside for calves that will make good grass cattle as the turn-out season is nearing, but with prices so high, buyers have been picky on the type and kind they purchase,” Stewart said.
Missouri: Joplin Regional Stockyards in Carthage sold 8,000 head on Monday. Compared to a week earlier, at the mid-session, feeder steers sold unevenly from $10 lower to $10 higher. Feeder heifers sold unevenly from $5 lower to $10 higher. Benchmark steers averaging 778 lbs. sold from $377-397, averaging $380.57.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 6,500 head on Monday. Compared to a week earlier, feeder cattle and calves sold mostly steady. Benchmark steers averaging 782 lbs. sold from $365-384.50, averaging $375.31.
South Dakota: Sioux Falls Regional in Worthing sold 1,877 head on Monday. Compared to a week earlier, yearling steers 850 lbs. sold $4 lower and 900 lbs. sold steady. Heifers 700 lbs. sold $4 lower, and 800-850 lbs. sold $1-3 lower. A group of benchmark steers averaging 734 lbs. sold from $370-405, averaging $382.08. — Anna Miller Fortozo, WLJ managing editor
