Friday markets
There were not enough trades in any region for a cash cattle market trend, but compared to Thursday, dressed markets moved $2 higher at $165. Cash trade was slow on light demand in Nebraska and inactive on light demand in the Southern Plains and western Corn Belt. In the Texas Panhandle, live purchases moved from $103-13.50. A total of 12,056 head traded on the cash market, and 25,200 head sold on the formula grid, weighing 890 lbs. at $162.97.
CME live cattle futures are trading higher this week and above cash trade with the October and December contract closing today at $107.35 and $111.85.
Today’s slaughter is estimated at 111,000 head, down 8,000 head from last week and down 5,000 head from a year ago. Tomorrow’s slaughter is projected at 55,000 head, quite a few thousand head below last week and last year.
Boxed beef prices saw a slight increase, with the Choice cutout up 59 cents to $215.64 and Select up 55 cents to $203.94 on 147 loads.
Feeder cattle
The National Feeder and Stocker Cattle Summary for the week reported compared to last week, many markets this week are compared to two weeks ago, especially with the large volume Monday sales and early week sales. A total of 201,200 head traded this week, compared to 119,800 head last week and 158,500 head last year.
“Order buyers this week flexed their muscles pursing the long green grass yearlings over 750 lbs., with mostly 850-1,000-lb. yearlings selling steady to $5 higher with instances $8 higher,” the report read.
Discounts on weaned calves were $3-8 lower, and are likely to increase as fall approaches. “We are entering the time of year where buyers are in search of calves that spend more time eating and staying healthy than bawling.”
Winter Livestock in Pratt, KS, on Thursday sold 61 head of value-added yearling steers weighing 912 lbs. at $146.50.
CME feeder cattle futures were green across the board, with the September contract up 95 cents to $140.88 and October up 98 cents to $142.43. The latest known CME Feeder Cattle Index was up nearly a dollar to $142.18. — Anna Miller, WLJ editor
