Cattle Current-Week ending July 24

Cattle Current-Week ending July 24

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
2017-07-23T19:44:48-05:00

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