Thursday markets
Markets were closed for the Juneteenth holiday, but boxed beef prices rose despite limited processing activity.
Tomorrow is the release of the Cattle on Feed and pre-report estimates show that feedlots with 1,000 head or greater will be 99% for cattle on feed in June. Placements in May are estimated to be 94.9%, and marketings for May are predicted at 90.3%.
Today’s cash trade was 2,090 head sold. Live steers sold for $231-237, and dressed steers sold for $376.
On the formula side, 29,000 head averaging 914 lbs. sold for an average of $377.34.
Boxed beef prices were higher on 75 loads, with the Choice cutout up $4.92 to $393.79 and the Select cutout up $1.85 to $374.59.
Estimated slaughter for today is 117,000 head, 2,000 head above a week earlier. Total beef production under federal inspection for the week ending June 14 was 484.9 million pounds, down 4.2% from the previous week.
According to USDA’s National Agricultural Statistics Service, U.S. beef production in May totaled 2.12 billion lbs., down 9% from the previous year, with cattle slaughter falling 11% to 2.45 million head. The average live weight rose by 27 lbs. to 1,422 lbs. Overall, commercial red meat production reached 4.38 billion lbs. in May, a 5% decrease from May 2024. Differences in weekday and Saturday totals between the two months may have influenced processing levels.
Nebraska: Huss Livestock in Kearney sold 1,035 head on Wednesday. Compared to the last auction, a solid offering of cow/calf pairs and bred cows saw moderate to good buyer demand. Benchmark steers averaging 781 lbs. sold for $319.50-327, averaging $321.55.
New Mexico: Clovis Livestock in Clovis sold 1,123 head on Wednesday. Compared to the last auction, steer calves 400-450 lbs. sold $10 higher and 500-550 lbs. were $12-18 lower. Feeder steers 600-650 lbs. sold $10-15 lower, while 700-750 lbs. sold $11 higher. Heifer calves 450-500 lbs. sold $15-20 lower and 500-600 lbs. were $7-15 higher. Feeder heifers 700-750 lbs. sold $11 higher. Benchmark steers averaging 710 lbs. sold for $310-320, averaging $313.20.
Oklahoma: OKC West in El Reno sold 6,129 head on Wednesday. Compared to the last auction, feeder steers sold unevenly steady. Feeder heifers traded $2-7 lower. Steer calves sold $1-5 higher. Heifer calves were steady to $3 higher. Benchmark steers averaging 771 lbs. sold for $326. — Charles Wallace, WLJ contributing editor
