Cattle Current-Week ending June 30

Cattle Current-Week ending June 30

Due in part to the fact that most auctions will be closed the week of July 4th, feeder cattle traded mainly steady to higher on moderate to active trading, despite lower prices for cash fed cattle and wholesale beef.

Feeder steers and heifers sold mostly steady to $5 higher, according to the Agricultural Marketing Service (AMS), although there were some instances of $3 lower. Feeder steers and heifers in the Southeast traded from $4 lower to $5 higher.

Feeder Cattle futures closed an average of $4.31 higher week to week on Friday ($2.97 to $5.27 higher).

“Cattle buyers paid little attention to the board (futures) this week and continued to bid until orders were filled as many livestock markets will be closed in observance of the 4th of July holiday,” said AMS analysts. “All major markets will be closed next week, with very few late-week auctions open for business.”

In the meantime, expanding drought in the Northern Plains is altering cattle marketing plans.

“In the north, feeder cattle are making their way to the sale barn, with many coming in off of feed or from a backgrounder versus grass, as the area is still experiencing dry conditions,” AMS analysts say. “Due to these circumstances, many of the feeders may be carrying more flesh than what is usually observed. The dry conditions are also driving producers to send stocker cows to the market.”

Negotiated cash fed cattle trade for the week was $3-$5 lower at mostly $118-$119/cwt. Dressed trade was mostly $4-$5 lower at $189-$191.

Choice boxed beef cutout value was $15.02/cwt. lower week to week on Friday at $224.73. Select was $8.30 lower at $208.42. The Choice-Select spread narrowed $6.72 to $16.31.

Except for a dime lower in expiring Jun, Live Cattle futures closed an average of $2.35 higher week to week on Friday ($1.02 to $2.77 higher).

 

Friday to Friday Change*

 

Weekly Auction Receipts

Receipts Auction Change Direct Change Video/Internet Change Total Change
June 30 134,200 – 11,200 36,200 + 9,400 87,100 + 14,400 257,500 + 12,600

 

CME Feeder Index

CME Feeder Index June 29 Change
  $149.23 + $2.14

*Thursday-to Thursday for CME Feeder Index

 

Cash Stocker and Feeder

North Central

Steers-Cash June 30 Change 
600-700 lbs. $183.28 +  $9.33
700-800 lbs. $167.58 +   $8.32
800-900 lbs. $151.87 +   $2.43

 

South Central

Steers-Cash June 30 Change
500-600 lbs. $162.55 –  $0.65
600-700 lbs. $156.05 + $1.45
700-800 lbs. $149.62 + $2.01

 

Southeast

Steers-Cash June 30 Change 
400-500 lbs. $157.56 –  $3.87
500-600 lbs. $152.52 –  $1.95
600-700 lbs. $143.79 –  $3.06

(AMS National Weekly Feeder & Stocker Cattle Summary)

 

Wholesale Beef Value

Boxed Beef  (p.m.) June 30 ($/cwt) Change
Choice $224.73 –  $15.02
Select $208.42 –    $8.30
Ch-Se Spread    $16.31 –    $6.72

Futures

Feeder Cattle  June 30 Change
Aug $147.925 +  $2.975
Sep $148.025 +  $3.625
Oct $146.925 +  $4.225
Nov $145.775 +  $4.575
Jan ’18 $142.575 +  $5.275
Mar $140.425 +  $5.000
Apr $139.325 +  $4.525
Aug $138.100 +  $4.300

 

Live Cattle  June 30 Change
Jun $119.100 –  $0.100
Aug $116.300 +  $1.025
Oct $115.200 +  $2.775
Dec $115.800 +  $2.775
Feb ’18 $116.275 +  $2.650
Apr $114.800 +  $2.700
Jun $108.275 +  $2.650
Aug $107.000 +  $2.600
Oct $108.050 +  $1.650

 

Corn futures June 30 Change
Jul $3.704 + $0.128
Sep $3.810 + $0.156
Dec $3.920 + $0.168
Mar ’18 $4.012 + $0.162
May $4.070 + $0.158
Jul $4.124 + $0.152

 

Oil CME-WTI June 30 Change
Jul $46.04 +  $3.03
Aug $46.29 +  $3.02
Sep $46.51 +  $3.00
Oct $46.77 +  $2.98
Nov $47.05 +  $2.97
Dec $47.31 +  $2.97

Equities

Equity Indexes June 30 Change
Dow Industrial Average 21349.63 –  45.13
NASDAQ   6140.42 – 124.83
S&P 500   2423.41 –    14.89
Dollar (DXY)        95.63 –      1.67
2017-07-02T19:00:26+00:00

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