Friday markets
The cattle markets were able to rally heading into the weekend. Although cash cattle trade was still limited, the live cattle market was higher along with futures contracts.
A total of 5,846 cash cattle traded today. Live steers sold between $102.50-107 and averaged $106. Dressed purchases moved from $165-167 and averaged $166.42. A total of 11,800 head averaging 890 lbs. were sold on formula, averaging $170.07.
In the Southern Plains and Nebraska, negotiated cash trading was mostly inactive on light demand. Trade in the western Corn Belt was limited on light demand.
Live cattle contracts were up across the board: The December contract gained 30 cents to $108.65, February 70 cents to $112.150, and April 75 cents to $116.05.
A total of 109,000 head were slaughtered today, 5,000 head down from last week and 9,000 head down from last year. Tomorrow’s weekend slaughter is projected at 59,000 head, also down several thousand head from last week and last year. This week’s slaughter to date is estimated at 588,000 head.
Boxed beef prices were mixed today on 115 loads. The Choice cutout was up $1.77 to $214.32 and the Select contract was down 48 cents to $198.49.
Feeder cattle
“As the live cattle market has scaled higher throughout the week, the feeder cattle market is being fueled by the optimism throughout the cattle complex as cash cattle trade higher, the futures market is supported and the corn contracts are holding steady at this point in the day,” reported ShayLe Stewart, DTN livestock analyst, in her midday market comments.
The November feeder cattle contract was up 13 cents to $137.70, January up 53 cents to $135.93 and March up 43 cents to $135.18. The corn contract dropped 2 cents to settle at $4.06. The latest CME Feeder Cattle Index was released yesterday, down 66 cents to $137.91.
Burwell Livestock Market in Burwell, NE, sold 1,347 head today. There were a limited number of comparable offerings from two weeks ago with 500-lb. heifers trading $7 higher. Demand was good with warmer weather in the area the past week. Heifers averaging 526 lbs. sold between $142-156, averaging $146.21.
Cattlemen’s Livestock Auction in Belen, NM, sold 350 head today. Compared to last week, steer and heifer calves sold $3-8 higher, the most advance on 450-550 lbs. There was no comparison on feeders due to limited receipts. Receipts were limited due to the statewide winter storm making transport difficult. — Anna Miller, WLJ editor
