Monday markets
Presidents Day put a pause on most trading today, with much of the market closed.
Cash trade for the day totaled less than 50 head. No market trends were noted. On the formula side, 15,000 head averaging 935 lbs. averaged $391.63.
Cash trade for the week ending Feb. 15 totaled 59,651 head. Live steers averaged $245.26, and dressed steers averaged $381.16.
Slaughter for the day is estimated at 87,000 head, compared to 107,000 head a week earlier. Total slaughter for a week earlier is projected at 541,000 head.
Boxed beef prices were mixed on 50 loads. The Choice cutout gained $3.30 to close at $367.77, and the Select cutout lost $2.19 to close at $361.23.
“As winter moves from winter to spring, beef demand should improve,” the Cattle Report wrote. “The processors who are suffering large losses currently hope for improving demand for beef to correct some of the margin losses rather than closing another plant.”
Feeder cattle
Missouri: Joplin Regional Stockyards in Missouri sold 10,500 head on Monday. Compared to a week earlier, at the mid-session, feeder steers sold from $5 lower to $15 higher. Feeder heifers sold from $10 lower to $10 higher. Benchmark steers averaging 783 lbs. sold from $357-387.50, averaging $366.87.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 6,500 head on Monday. Compared to a week earlier, at the mid-session, feeder steers sold steady to $4 higher and feeder heifers sold $5-10 higher. Steer calves sold mostly steady, and heifer calves under 500 lbs. sold steady to $5 higher while over 500 lbs. sold $4-8 lower. Benchmark steers averaging 780 lbs. sold from $364-390, averaging $372.93. — Anna Miller Fortozo, WLJ managing editor
