Feeder cattle and weaned calves sold steady to $5/cwt. higher—as much as $8-$10 higher—according to the Agricultural Marketing Service (AMS).
“Though the calf market has remained fairly strong through mid-October, purchasers of these animals face several risks that are accounted for in the market price,” says Andrew P. Griffith, agricultural economist at the University of Tennessee, in his weekly market comments. “There will likely be continued pressure on freshly weaned calves moving through the next month and a half as morbidity and mortality rates become more of a concern.”
Feeder Cattle futures closed an average of $1.17 lower week to week on Friday (65¢ to $1.50 lower), except for marginal gains on both ends of the board.
Negotiated cash fed cattle prices were $1-$3 higher at mostly $111-$111.50/cwt. on a live basis and $175 in the beef.
Except for $1.80 higher in spot October, Live Cattle futures closed an average of 24¢ higher week to week on Friday; 12¢ lower in away October.
Choice boxed beef cutout value was $1 higher week to week on Friday at $198.22 per cwt. Select was $2.82 higher at $190.05.
“The beef market has been fairly steady for several weeks, but middle meats will begin to garner some attention as the market moves closer to the holiday season,” Griffith says. “The increased interest in middle meats should help spur beef prices to slightly higher levels in November and December before the winter market of end meats becomes the support system for wholesale beef.”
Friday to Friday Change*
Weekly Auction Receipts
|
Receipts Oct. 13 |
Auction (head) (Change) |
Direct (head) (Change) |
Video/net (head) (Change) |
Total (head) (Change) |
|
254,500 (+42,700) |
32,300 (-91,00) |
900 (-22,400) |
287,700 (+11,200) |
CME Feeder Index
| CME Feeder Index | Oct. 12 | Change |
| $155.23 | – $0.34 |
*Thursday-to Thursday for CME Feeder Index
Cash Stocker and Feeder
North Central
| Steers-Cash | Oct. 13 | Change |
| 600-700 lbs. | $165.62 | + $2.01 |
| 700-800 lbs. | $159.96 | – $3.84 |
| 800-900 lbs. | $158.76 | – $0.20 |
South Central
| Steers-Cash | Oct. 13 | Change |
| 500-600 lbs. | $160.35 | + $1.58 |
| 600-700 lbs. | $156.34 | + $1.54 |
| 700-800 lbs. | $156.39 | + $2.16 |
Southeast
| Steers-Cash | Oct. 13 | Change |
| 400-500 lbs. | $156.62 | + $0.06 |
| 500-600 lbs. | $148.60 | + $2.01 |
| 600-700 lbs. | $140.51 | + $0.31 |
(AMS National Weekly Feeder & Stocker Cattle Summary)
Wholesale Beef Value
| Boxed Beef (p.m.) | Oct. 13 ($/cwt) | Change |
| Choice | $198.22 | + $1.00 |
| Select | $190.05 | + $2.82 |
| Ch-Se Spread | $8.17 | – $1.82 |
Futures
| Feeder Cattle | Oct. 13 | Change |
| Oct | $154.050 | + $0.100 |
| Nov | $155.000 | – $0.750 |
| Jan ’18 | $153.050 | – $0.650 |
| Mar | $150.350 | – $1.300 |
| Apr | $149.775 | – $1.375 |
| May | $148.475 | – $1.450 |
| Aug | $149.150 | – $1.500 |
| Sep | $149.375 | + $0.050 |
| Live Cattle | Oct. 13 | Change |
| Oct | $112.825 | + $1.800 |
| Dec | $117.125 | + $0.200 |
| Feb ’18 | $121.075 | + $0.350 |
| Apr | $122.000 | + $0.400 |
| Jun | $115.350 | + $0.150 |
| Aug | $112.400 | + $0.100 |
| Oct | $112.650 | – $0.125 |
| Dec | $113.700 | + $0.450 |
| Feb | $113.650 | + $0.050 |
| Corn futures | Oct. 13 | Change |
| Dec | $3.526 | + $0.026 |
| Mar ’18 | $3.664 | + $0.032 |
| May | $3.752 | + $0.032 |
| Jul | $3.824 | + $0.028 |
| Sep | $3.892 | + $0.026 |
| Dec | $3.982 | + $0.018 |
| Oil CME-WTI | Oct. 13 | Change |
| Nov | $51.45 | + $2.16 |
| Dec | $51.73 | + $2.08 |
| Jan 18 | $51.94 | + $2.02 |
| Feb | $52.10 | + $1.98 |
| Mar | $52.21 | + $1.94 |
| Apr | $52.26 | + $1.90 |
Equities
| Equity Indexes | Oct. 13 | Change |
| Dow Industrial Average | 22871.72 | + 98.05 |
| NASDAQ | 6605.80 | + 15.62 |
| S&P 500 | 2553.17 | + 3.84 |
| Dollar (DXY) | 93.05 | – 0.74 |