Thursday markets
Cattle contracts mainly closed lower as corn closed higher. Some cash trade developed today, roughly $1 higher in the South.
Live cattle closed mixed, with the October contract up 27 cents to $146.45 and the December contract down 52 cents to $147.92.
Cash trade was somewhat active, with 21,711 head selling for $145-148, averaging $147.34. Dressed steers sold between $230-232 and averaged $231.85. Trade was reported in Kansas and Texas at $145, with bids in Nebraska reported at $148. Asking prices were around $146-plus in the South and $232-plus in the North.
On the formula side, 30,300 head averaging 899 lbs. sold for $236.17.
Slaughter for today is expected to be 127,000 head, the same as last week.
Actual slaughter for the week ending Oct. 1 was 667,186 head. Dressed steer weights were 917 lbs.
Boxed beef closed mixed on 196 loads, with the Choice cutout down 13 cents to $246.53 and the Select cutout up $1.60 to $215.86.
Feeder cattle
Feeder cattle closed lower, with the October contract down 75 cents to $174.75 and the November contract down 57 cents to $176.10. The CME Feeder Cattle Index was down $1.01 to $174.03.
“The market is encouraged to see cash cattle beginning to trade higher, but it’s keenly watching the corn complex to make sure that it doesn’t run higher,” ShayLe Stewart, DTN livestock analyst, wrote in the midday comments. “If grain prices trade higher, that will hinder buying in the countryside as buyer’s breakevens don’t have much room to give and still yield a profit.”
Corn closed higher, with the December contract up 4 cents to $6.97 and the March contract up 5 cents to $7.05.
Kansas: Winter Livestock in Dodge City sold 2,876 head Wednesday. Compared to the last auction, feeder steers 600-925 lbs. sold $8-14 higher. Steer calves 300-600 lbs. sold $7-10 lower. Heifers 400-900 lbs. sold unevenly steady. Benchmark steers averaging 758 lbs. sold between $168.50-177.50, averaging $176.19.
Nebraska: Bassett Livestock in Bassett sold 2,380 Wednesday. Compared to the previous auction, 500-600 lb. steers traded steady to $4 lower, and 900-950 lb. steers traded steady to $3 higher. There were a limited number of comparable offerings for heifers, with 950 lb. offerings trading steady. Benchmark steers averaging 733 lbs. sold for $180.
Oklahoma: OKC West in El Reno sold 6,811 head Wednesday. Compared to the last auction, feeder steers and heifers traded mostly steady. Steer and heifer calves that were unweaned sold steady, and long-weaned calves traded $2-3 higher. Benchmark steers averaging 722 lbs. sold between $170-181 and averaged $174.84.
South Dakota: Hub City Livestock in Aberdeen sold 3,991 head Wednesday. Compared to the previous auction, yearling steers 850-900 lbs. and 950-1,000 lbs. sold $2-4 lower. Yearling heifers 800-850 lbs. sold mostly steady. A group of steers averaging 667 lbs. sold between $193-201, averaging $198.25. — Charles Wallace, WLJ editor
