Thursday markets
“Thursday’s market hasn’t blessed the livestock complex with an easy road, especially for the cattle contracts as feeders lack support to trade higher while corn is lower and the live cattle complex saw a less than desirable export report Thursday morning,” ShayLe Stewart, DTN livestock analyst, wrote in the midday comments.
Live cattle closed mixed, with the December contract up 55 cents to $151.95 and the February contract down 2 cents to $154.87.
Cash trade was active, with 28,917 head selling between $150-155, averaging $152.03. Dressed steers sold between $240-243 and averaged $242.10.
Slaughter for the day is expected to be 128,000 head, the same as last week.
Actual slaughter for the week ending Oct. 22 was 674,927 head. Steer dressed weights were 925 lbs.
Boxed beef prices were mixed on 129 loads, with the Choice cutout up $1.71 to $265.18 and the Select cutout down 10 cents to $233.06.
USDA’s Weekly Export report for the Oct. 21-27 period showed net sales of 9,200 metric tons (mt), primarily for Japan (3,000 mt), South Korea (1,900 mt), Taiwan (1,800 mt) and Canada (1,100 mt). Exports were 18,000 mt, primarily to South Korea (5,200 mt), Japan (3,900 mt), China (2,800 mt), Mexico (1,700 mt) and Taiwan (1,300 mt).
Feeder cattle
Feeder cattle closed lower despite corn trading lower as well, with the November contract down 92 cents to $178 and the January contract down 57 cents to $179.42. The CME Feeder Cattle Index was up 34 cents to $177.63.
Corn contracts were lower, with the December and March contracts each down 8 cents to $6.79 and $6.84, respectively.
Kansas: Winter Livestock in Dodge City sold 3,978 head Wednesday. Compared to the previous auction, feeder steers 400-950 lbs. sold $5-8 higher. Feeder heifers 400-875 lbs. sold $3-6 higher. Benchmark steers averaging 761 lbs. sold between $177-180 and averaged $179.44.
New Mexico: Clovis Livestock Auction in Clovis sold 2,986 head Wednesday. Since there has not been an auction in the last few weeks, a comparison could not be established. A group of steers averaging 725 lbs. sold between $160-166, averaging $163.91.
Oklahoma: OKC West in El Reno sold 8,239 head Wednesday. Compared to the previous auction, feeder steers sold $3-5 higher. Feeder heifers traded $1-2 higher. Steer and heifer calves sold $2-6 higher. Benchmark steers averaging 718 lbs. sold between $175-184.50 and averaged $179.96.
South Dakota: Hub City Livestock Auction in Aberdeen sold 4,304 head Wednesday. Compared to the last auction, the best test on yearling steers 900-950 lbs. sold steady, with other weight classes of yearling steers and heifers not well compared. A group of steers averaging 658 lbs. sold between $186-194.50, averaging $192.36. — Charles Wallace, WLJ editor
