Monday markets
The cattle market began the week on a high note with all futures contracts up several dollars, likely influenced by lower placement numbers in Friday’s Cattle on Feed report.
Live cattle futures were higher, up $5.02 to $220.95 on the October contract and up $5.37 to $222 on the December contract.
Cash trade for the day totaled 130 head. Live steers sold for $222, but no market trends were noted for dressed steers.
Cash trade for the week ending Sept. 20 totaled 64,259 head. Live steers averaged $222.38, and dressed steers averaged $350.15.
Slaughter through the day totaled about 105,000 head, compared to 103,000 head a week earlier. Total slaughter for last week is estimated at 529,000 head, compared to 505,000 head a week earlier.
Boxed beef prices were higher on 58 loads. The Choice cutout gained $4.41 to close at $376.35, and the Select cutout gained $2.51 to close at $355.77.
Feeder cattle
Feeder cattle futures were higher, up $3.90 on the September contract to $337.47 and up $6.75 on the October contract to $330.25.
The CME Feeder Cattle Index lost 67 cents to close at $342.50.
Corn futures were higher, up 15 cents on the December contract to $5.43 and up 15 cents on the March contract to $5.56.
Missouri: Joplin Regional Stockyards in Carthage sold 6,194 head on Monday. Compared to a week earlier, feeder steers under 600 lbs. sold $10-25 higher. Heavier weights sold mostly steady. Feeder heifers under 550 lbs. sold $5-25 higher, with heavier weights selling from $10 lower to $8 higher. Benchmark steers averaging 782 lbs. sold from $331-358, averaging $339.95.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 5,700 head on Monday. Compared to the previous sale, feeder steers over 800 lbs. sold steady to $4 higher and under 800 lbs. were lightly tested and sold steady to $4 lower. Feeder heifers sold $1-5 lower. Steer calves over 500 lbs. sold steady to $5 higher, and under 500 lbs. were lightly tested. Heifer calves sold $5-10 lower.
South Dakota: Sioux Falls Regional in Worthing sold 1,898 head. There were few comparable sales of yearling feeder steers and heifers, but they sold mostly steady. There was moderate to good demand of backgrounded yearlings and good to very good demand for weaned fall calves. Benchmark steers averaging 772 lbs. sold from $355.50-382.50, averaging $372.11. — Anna Miller Fortozo, WLJ managing editor
