Steers and heifers sold $3-$6/cwt. higher, with instances $8-$10 higher, according to the Agricultural Marketing Service (AMS).
“In the north, farmer feeders are driving the market, particularly for big strings of big yearlings, and especially for those of one raising,” AMS analysts say. “One didn’t have to look too hard to find impressive prices, as yearlings sold with excellent demand all over cattle country, regardless of whether the Board was sharply higher or significantly lower that particular day.”
With extreme summer heat across wide swaths of the nation, AMS analysts noted, “Multiple reports trickled in through the week that any cattle carrying extra hair were subject to discount, but otherwise, demand remained very good despite the high heat.”
Feeder Cattle futures closed an average of 91¢ lower week to week on Friday (87¢ to $1.35 lower).
Moreover, cash feeder cattle markets held their ground in the face of increasingly volatile grain futures prices spurred along by drought worries.
Cash fed cattle sales ended up steady to $2 higher compared to the previous week at mostly $120/cwt. Dressed trade was steady to $1 lower at $189-$190.
Week to week, Live Cattle futures closed an average of $1.12 lower through the front three contracts and then mostly narrowly mixed.
Although declines moderated, wholesale beef values continued to lose seasonal ground. Week to week Choice boxed beef cutout value was $2.44 lower on Friday afternoon at $206.91/cwt. Select was 62¢ lower at $194.80.
The big story heading into this week will likely be the monthly Cattle on Feed report that shows June placements 16.1% more than a year earlier.
Friday to Friday Change*
Weekly Auction Receipts
| Receipts | Auction | Change | Direct | Change | Video/Internet | Change | Total | Change |
| July 21 | 121,300 | – 29,400 | 67,100 | – 14,100 | 234,900 | + 96,700 | 423,300 | + 53,200 |
CME Feeder Index
| CME Feeder Index | July 20 | Change |
| $149.03 | – $0.71 |
*Thursday-to Thursday for CME Feeder Index
Cash Stocker and Feeder
North Central
| Steers-Cash | July 21 | Change |
| 600-700 lbs. | $179.65 | + $7.27 |
| 700-800 lbs. | $166.53 | + $4.17 |
| 800-900 lbs. | $157.07 | + $0.51 |
South Central
| Steers-Cash | July 21 | Change |
| 500-600 lbs. | $162.81 | + $3.80 |
| 600-700 lbs. | $158.23 | + $3.40 |
| 700-800 lbs. | $153.16 | + $2.16 |
Southeast
| Steers-Cash | July 21 | Change |
| 400-500 lbs. | $158.63 | + $1.23 |
| 500-600 lbs. | $151.17 | + $0.56 |
| 600-700 lbs. | $148.29 | + $4.17 |
(AMS National Weekly Feeder & Stocker Cattle Summary)
Wholesale Beef Value
| Boxed Beef (p.m.) | July 21 ($/cwt) | Change |
| Choice | $206.91 | – $2.44 |
| Select | $194.80 | – $0.62 |
| Ch-Se Spread | $12.11 | – $1.82 |
Futures
| Feeder Cattle | July 21 | Change |
| Aug | $152.950 | – $1.325 |
| Sep | $153.150 | – $0.925 |
| Oct | $151.950 | – $0.800 |
| Nov | $150.425 | – $0.425 |
| Jan ’18 | $147.050 | – $0.500 |
| Mar | $143.800 | – $1.050 |
| Apr | $142.450 | – $1.350 |
| Aug | $141.250 | – $0.875 |
| Live Cattle | July 21 | Change |
| Aug | $116.425 | – $1.375 |
| Oct | $117.400 | – $1.175 |
| Dec | $118.175 | – $0.825 |
| Feb ’18 | $119.375 | + $0.150 |
| Apr | $118.575 | – $0.050 |
| Jun | $111.825 | -0- |
| Aug | $110.000 | + $0.250 |
| Oct | $110.025 | + $0.425 |
| Dec | $110.350 | + $0.525 |
| Corn futures | July 21 | Change |
| Sep | $3.796 | + $0.034 |
| Dec | $3.934 | + $0.040 |
| Mar ’18 | $4.044 | + $0.042 |
| May | $4.094 | + $0.046 |
| Jul | $4.142 | + $0.046 |
| Sep | $4.144 | + $0.062 |
| Oil CME-WTI | July 21 | Change |
| Aug | $45.77 | – $0.77 |
| Sep | $45.95 | – $0.80 |
| Oct | $46.19 | – $0.73 |
| Nov | $46.45 | – $0.67 |
| Dec | $46.69 | – $0.66 |
| Jan ’18 | $46.87 | – $0.68 |
Equities
| Equity Indexes | July 21 | Change |
| Dow Industrial Average | 21580.07 | – 57.67 |
| NASDAQ | 6387.75 | + 75.29 |
| S&P 500 | 2472.54 | + 13.27 |
| Dollar (DXY) | 93.85 | – 1.26 |