Thursday markets
Cattle futures closed higher after trading back and forth.
Live cattle futures closed higher, with the October contract up $1.97 to $217.82 and the December contract $1.12 higher to $219.60.
Cash trade was light, with 595 head sold. Live steers sold for $218, and dressed steers sold for $355. On the formula side, 24,300 head averaging 948 lbs. sold for an average of $354.16.
Today’s slaughter is estimated to be 109,000 head, 4,000 head above last week.
Actual slaughter for the week ending Aug. 29 was 546,000 head. The average steer dressed weight was 969 lbs., up 2 lbs. from the prior week.
“Carcass weights are record high, with steers today reported by the USDA at 969 pounds, up 2 pounds from a week ago and up 16 pounds from a year ago,” wrote Cassie Fish, market analyst, in The Beef. “Bigger carcasses mean more fat is trimmed off items on the fabrication floor and the record large subprimals fill more boxes.”
Boxed beef prices were lower on 114 loads, with the Choice cutout down $2.40 to $378.37 and the Select cutout 28 cents lower to $352.06.
Feeder cattle
Feeder cattle futures also closed higher, with the September contract up $2.87 to $332.57 and the October contract $1.72 higher to $327.55.
The CME Feeder Cattle Index was 45 cents higher to $327.43.
Corn futures closed higher, with the September and December contracts up 6 cents to $5.14 and $5.33, respectively.
Kansas: Winter Livestock in Dodge City sold 860 head on Wednesday. Compared to the previous auction, heifers 650 lbs. and over sold steady to $3 higher. Steers and heifers under 650 lbs. sold $20 higher. Feeder steers were not enough for a market test. Benchmark steers averaging 792 lbs. sold for $331.50.
New Mexico: Clovis Livestock in Clovis sold 1,750 head on Wednesday. Compared to the last auction, steer and heifer calves sold unevenly, with a premium for weaned or pre-conditioned calves. Feeder steers and heifers sold mostly at lower prices. Benchmark steers averaging 705 lbs. sold from $304-326, averaging $306.67.
Oklahoma: OKC West in El Reno sold 4,606 head on Wednesday. Compared to the last auction, feeder steers over 750 lbs. sold $10-15 higher. Feeder heifers over 700 lbs. sold $12-15 higher. Steer calves were slightly softer, and heifer calves were firm in a light test of weaned cattle. Benchmark steers averaging 770 lbs. sold from $328-351.25, averaging $341.06.
South Dakota: Hub City Livestock in Aberdeen sold 2,565 head on Wednesday. Compared to the previous auction, steers 950-1,099 lbs. sold $9-12 higher. The best test on heifers was 950-999 lbs., which sold $9-11 higher. A lot of steers averaging 874 lbs. sold for $333-349.25, averaging $345.02.
Wyoming: Torrington Livestock in Torrington sold 2,904 head on Wednesday. Compared to the previous auction, feeder steers and heifers traded $10-20 higher. Steer and heifer calves on comparable trades to last week traded sharply higher. Benchmark steers averaging 739 lbs. sold from $372-375, averaging $373.35. — Charles Wallace, WLJ contributing editor
