Friday markets
It was a quiet day for the livestock complex, with live and feeder cattle closing mostly sideways. Cash trade closed the week mostly $1 higher in all regions.
Live cattle closed slightly lower, with the October contract down 12 cents to $145.50 and the December contract down 35 cents to $150.97.
Cash trade was somewhat active, with 12,305 head selling between $143-145. Dressed steers averaged $228.05.
“The cash trade this week was a tug (of) war with packers trying to hold the line and cattle owners holding tight for higher prices,” the Cattle Report wrote. “Smaller supplies of cattle were face to face with declining box prices yet processing margins allowed for higher cash prices and more than adequate margins to keep the pipeline stocked with beef. Prices were $1 higher in all regions. Live sales in the north ranged from $142-144 and dressed sales from $226-230. In the south trade developed at $142. Trading has now moved from early week to late week as packers resist higher prices and producers refuse steady bids.”
On the formula side, 35,300 head averaging 867 lbs. sold for $225.65.
Slaughter through today is projected at 118,000 head, with tomorrow’s slaughter expected to reach 45,000 head, and total slaughter for the week will be about 667,000 head.
Boxed beef closed mixed on 139 loads, with the Choice cutout up 6 cents to $252.40 and the Select cutout down $3.30 to $226.65.
Feeder cattle
Feeder cattle closed mixed, with the September contract down 15 cents to $179.20 and the October contract up 32 cents to $181.25. The CME Feeder Cattle Index was down $1.69 to $176.82.
“With the corn market holding mostly steady, the feeder cattle market is continuing to (wave) its white flag as its market keeps trading lower,” ShayLe Stewart, DTN livestock analyst, wrote in the midday comments. “Feeder cattle demand throughout the countryside has seen hit or miss demand as the markets are noticing that fewer farmer feeders are sitting in sales as they’re harvesting.”
Corn closed mostly unchanged, with the December and March contracts closing at $6.77 and $6.83, respectively.
Kansas: Winter Livestock in Pratt sold 4,282 head Thursday. Compared to the last auction, feeder steers 400-900 lbs. sold unevenly steady. However, thin and fancy steers sold $2-4 higher. Feeder heifers 600-950 lbs. sold $2-5 higher. Heifer calves 400-600 lbs. sold unevenly steady. However, thin-fleshed and fancy heifers sold $2-4 higher. Benchmark steers averaging 777 lbs. sold between $173-177.50, averaging $174.89.
Oklahoma: Woodward Livestock in Woodward sold 3,028 head Thursday. Compared to the last auction, feeder steers sold $2-5 lower, and feeder heifers traded $5-7 lower. Steer calves sold $2-4 lower, and heifer calves were $6-8 lower. Benchmark steers averaging 757 lbs. sold between $163-178.50 and averaged $176.05.
South Dakota: Mitchell Livestock in Mitchell sold 1,537 head Thursday. Compared to the last auction, due to lower numbers, a trend could not be established. However, a lower undertone was noted. Heifers 800-950 lbs. sold steady to $2 lower. A group of steers averaging 734 lbs. sold between $178.50-189.50, averaging $185.01. — Charles Wallace, WLJ editor
