Friday markets
Negotiated cash fed cattle trading has been limited this week with a few live sales steady with last week at $106.
A total of 8,131 head traded today, compared to 1,668 head a week ago and 30,170 head a year ago. Live steers traded from $100-106, averaging $104.18. Dressed purchases traded around $163.
The October live cattle contract expired today, 30 cents lower than yesterday at $105.97 and $5.70 lower from last year’s October contract. The deferred contracts were up 32 cents and 2 cents to $108.30 and $110.40, respectively.
Estimated cattle slaughter under federal inspection this week was reported at 638,000 head, 5,000 less than last week, and 21,000 less than last year. Saturday’s slaughter is predicted at 64,000 head to process some of the cattle that were unable to be processed during the week due to plants closing from severe weather.
Boxed beef prices were up on 106 loads, with the Choice cutout up 78 cents to $208.10 and the Select cutout up a penny to $191.24.
Feeder cattle
Compared to last week, steer and heifer calves sold unevenly at $3 lower to $2 higher. Limited amounts of yearlings sold steady to $3 higher. Southern Plains’ receipts were light this week due to a winter storm rolling through and making livestock transportation difficult. Oklahoma City National Stockyards sold only 3,100 head while Joplin Regional Stockyard sold 2,700 head and Winter Livestock in Pratt, KS, canceled their regular Thursday sale, causing total auction receipts to be about 88,000 head short from last year.
The feeder cattle contracts were green across the board: The November contract was up $1.67 to $137.40, January up $2.77 to $134.12 and the March contract up $2.55 to $133.52. The latest CME Feeder Cattle Index was up $2.42 to $136.76. The corn contract closed unchanged at $3.98.
Dunlap Livestock in Dunlap, IA, sold 1,064 head today in their Western Iowa Precondition Sale. Demand was good for the light offerings and trading was active. There is no market comparison, as last week was not a preconditioned sale. Steers averaging 583 lbs. sold between $136.50-150, at an average of $145.59. — Anna Miller, WLJ editor
