Monday markets
The cattle market began the week lower, strained by pressures that influenced the market over the last week.
Live cattle futures were lower, down $1.42 on the October contract to $217.45 and down $1.35 on the December contract to $220.80.
Cash trade for the day totaled about 100 head. No trends were noted. On the formula side, a total of 31,600 head averaging 931 lbs. averaged $358.52.
Cash trade for the week ending Sept. 27 totaled 47,138 head. Live steers averaged $221.97, and dressed steers averaged $347.84.
Slaughter through the day is estimated at 95,000 head, compared to 105,000 head a week earlier. Total slaughter for last week is expected at 484,000 head, compared to 529,000 head a week earlier.
“This dramatic shortfall is specifically related to the disruption caused by ICE’s presence in western Kansas that resulted in heavy absenteeism at major fed cattle plants,” wrote Cassie Fish, market analyst, in The Beef. “Today, at least one major plant is off to a slow start. Another plant in the region is expected to be dark on Wednesday due to the recurring logistics issue due to material handling backlogs.”
The Kansas Livestock Association, Oklahoma Cattlemen’s Association and Texas Cattle Feeders Association called on federal law enforcement to conduct enforcement in a “lawful, orderly, and transparent manner.”
“Sudden workforce disruptions can create immediate animal-welfare, operational, and economic consequences that extend well beyond an individual business,” the groups said. “These ICE operations are having a massive chilling effect on the legal, documented, skilled workers that put beef on the table and keep the cattle supply chain moving. Additionally, these types of disruptions will lead to higher beef prices for consumers.”
Boxed beef prices were higher on 105 loads. The Choice cutout gained $1.65 to close at $380.48, and the Select cutout gained $2.47 to close at $358.23.
Feeder cattle
Feeder cattle futures were lower, down $3.02 on the October contract to $331.90 and down $2.70 on the November contract to $329.27.
The CME Feeder Cattle Index gained $1.72 to close at $338.79.
Corn futures were lower, down 5 cents on the December contract to $5.23.
Iowa: Russell Livestock in Russell sold 2,091 head on Monday. Compared to the last auction held two weeks earlier, steers under 750 lbs. sold $3-20 higher and steers over 750 lbs. sold mostly $9-27 lower. Heifers under 700 lbs. were not well compared and heifers over 700 lbs. sold $9-24 lower. Benchmark steers averaging 771 lbs. sold from $325-354, averaging $337.69.
Missouri: Joplin Regional in Carthage sold 8,500 head on Monday. Compared to a week earlier, feeder steers under 700 lbs. sold steady to $5 lower, with the exception of five-weight steers, which sold $5-20 lower. Steers over 700 lbs. sold steady to $6 higher. Feeder heifers sold steady to $10 lower. Benchmark steers averaging 779 lbs. sold from $332-363, averaging $347.85.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 6,000 head on Monday. Compared to the previous sale, feeder steers and heifers sold mostly steady. Steer calves sold mostly steady, and heifer calves sold $2-8 lower. Benchmark steers averaging 776 lbs. sold from $338-360, averaging $348.57.
South Dakota: Sioux Falls Regional in Worthing sold 2,277 head on Monday. Compared to the previous sale, yearling feeder steers sold $3-6 lower and yearling feeder heifers were not well compared. A group of fleshy steers averaging 699 lbs. sold for $338. — Anna Miller Fortozo, WLJ managing editor
