Cattle Current-Week ending June 23

Cattle Current-Week ending June 23

Steers and heifers sold mostly $2-$8/cwt. lower last week, according to the Agricultural Marketing Service (AMS). Yearlings and heavyweight steers sold steady to weak with lower undertones, as Feeder Cattle futures lost ground most of the week.

Feeder Cattle futures closed $2.13 lower week to week on Friday ($1.15-$3.12 lower).

“The supply of feeder cattle is fairly tight as there is competition in the marketplace with farmers trying to buy cattle at lower prices, especially farmer feeders with old-crop corn to feed,” AMS analysts explained.

Cash fed cattle prices continued lower with seasonal pressure.

Choice boxed beef cutout value was $10.09 lower week to week on Friday at $239.75/cwt. Select was $3.08 lower at $216.72. The sharp narrowing to the Choice Select spread points to both demand preference and that more Choice cattle are available relative to demand.

Live negotiated cash fed cattle trade was $5-$11 lower at $121-$123/cwt. Live trade in Nebraska was $9-$11 lower at $121-$123; dressed sales were $7-$17 lower at $193-$198. Live Cattle futures closed an average of $2.46 lower week to week on Friday ($1.60-$3.05 lower).

Still, the volume of cash fed cattle sales remains strong, while carcass weights continue to trend lower.

“In the Livestock Slaughter report (NASS), the average dressed carcass weights of steers and heifers have dropped 25 lbs. since last year,” AMS analysts say. “Since the previous report covering April, steer carcasses decreased 13 lbs. and heifer carcasses decreased 20 lbs., indicating feedlots are staying current and that green cattle are being sold for slaughter.”

Friday to Friday Change*

 

Weekly Auction Receipts

Receipts Auction Change Direct Change Video/Internet Change Total Change
June 23 145,400 – 1,300 26,800 – 5,700 72,700 + 72,500 244,900 + 65,500

 

CME Feeder Index

CME Feeder Index June 22 Change
  $147.09 – $3.98

*Thursday-to Thursday for CME Feeder Index

 

Cash Stocker and Feeder

North Central

Steers-Cash June 23 Change 
600-700 lbs. $173.95 +  $3.98
700-800 lbs. $159.26 –    $1.73
800-900 lbs. $149.44 +    $0.16

 

South Central

Steers-Cash June 23 Change
500-600 lbs. $163.20 – $3.43
600-700 lbs. $154.60 – $1.98
700-800 lbs. $147.61 – $2.95

 

Southeast

Steers-Cash June 23 Change 
400-500 lbs. $161.43 –  $4.24
500-600 lbs. $154.47 –  $4.29
600-700 lbs. $146.85 –  $4.53

(AMS National Weekly Feeder & Stocker Cattle Summary)

 

Wholesale Beef Value

Boxed Beef  (p.m.) June 23 ($/cwt) Change
Choice $239.75 –  $10.09
Select $216.72 –    $3.08
Ch-Se Spread    $23.03 –    $7.01

Futures

Feeder Cattle  June 23 Change
Aug $144.950 –  $2.925
Sep $144.400 –  $2.950
Oct $142.700 –  $3.125
Nov $141.200 –  $2.925
Jan ’18 $137.300 –  $1.200
Mar $135.425 –  $1.150
Apr $134.800 –  $1.150
Aug $133.800 –  $1.625

 

Live Cattle  June 23 Change
Jun $119.200 –  $2.500
Aug $115.275 –  $2.900
Oct $112.425 –  $2.925
Dec $113.025 –  $3.050
Feb ’18 $113.625 –  $2.750
Apr $112.100 –  $2.250
Jun $105.625 –  $1.725
Aug $104.400 –  $1.600

 

Corn futures June 23 Change
Jul $3.576 –  $0.264
Sep $3.654 –  $0.266
Dec $3.752 –  $0.268
Mar ’18 $3.850 –  $0.262
May $3.912 –  $0.252
Jul $3.972 –  $0.242

 

Oil CME-WTI June 23 Change
Jul $43.01 –  $1.96
Aug $43.27 –  $1.93
Sep $43.51 –  $1.90
Oct $43.79 –  $1.88
Nov $44.08 –  $1.86
Dec $44.34 –  $1.83

Equities

Equity Indexes June 23 Change
Dow Industrial Average 21394.76 +  10.48
NASDAQ 6265.25 + 113.49
S&P 500 2438.30 +     5.15
Dollar (DXY)      97.30 +      0.16
2017-06-25T18:51:50+00:00

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