Feeder steers and heifers sold mostly steady to $6/cwt. higher, according to the Agricultural Marketing Service (AMS). Calves sold unevenly steady. Judging by the auctions monitored by Cattle Current last week, un-weaned types are receiving expected pressure.
“Several auction barns across the Plains and Midwest are reporting higher receipts than a year ago. This is due to many bringing their calves to town after weaning, and earlier than usual,” AMS analysts say. “Load lots were scarce and buyers were willing to piece together loads this week.”
Feeder Cattle futures closed an average of $4.94 higher week to week on Friday ($3.17 to $6.90 higher).
Cash fed cattle trade was another late-week affair. Hope offered by the rally in futures prices and Wednesday’s weekly Fed Cattle Exchange auction finally translated to higher money on the week. Live trade in the Southern Plains was $2 higher at $108/cwt. Dressed trade was $2-$5 higher in the western Corn Belt at $170, with light live trade $1-$3 higher at $108. Elsewhere, there were too few transactions to trend.
Live Cattle futures closed an average of $2.96 higher week to week on Friday ($2.05 to $4.60 higher).
Overall, AMS analysts described wholesale values as unsettled: starting the week firm to higher and finishing steady to weak.
Choice boxed beef cutout value was 18¢ higher week to week on Friday afternoon at $191.60 per cwt. Select was $2.88 higher at $188.73.
Friday’s Cattle on Feeder report—more August placements than expected—might add some pressure to calf prices this week.
Friday to Friday Change*
Weekly Auction Receipts
| Receipts | Auction | Change | Direct | Change | Video/Internet | Change | Total | Change |
| Sept. 22 | 213,400 |
+20,300 |
60,600 | +2,500 | 67,100 | +46,300 | 341,100 | +69,100 |
CME Feeder Index
| CME Feeder Index | Sept. 21 | Change |
| $151.44 | + $1.71 |
*Thursday-to Thursday for CME Feeder Index
Cash Stocker and Feeder
North Central
| Steers-Cash | Sept. 22 | Change |
| 600-700 lbs. | $167.25 | + $5.93 |
| 700-800 lbs. | $161.20 | + $1.45 |
| 800-900 lbs. | $157.15 | + $3.84 |
South Central
| Steers-Cash | Sept. 22 | Change |
| 500-600 lbs. | $160.57 | – $0.85 |
| 600-700 lbs. | $157.78 | + $0.48 |
| 700-800 lbs. | $154.62 | + $1.87 |
Southeast
| Steers-Cash | Sept. 22 | Change |
| 400-500 lbs. | $159.10 | – $0.86 |
| 500-600 lbs. | $148.67 | – $1.93 |
| 600-700 lbs. | $142.04 | – $1.22 |
(AMS National Weekly Feeder & Stocker Cattle Summary)
Wholesale Beef Value
| Boxed Beef (p.m.) | Sept. 22 ($/cwt) | Change |
| Choice | $191.60 | + $0.18 |
| Select | $188.73 | + $2.88 |
| Ch-Se Spread | $2.87 | – $2.70 |
Futures
| Feeder Cattle | Sept. 22 | Change |
| Sep | $153.400 | + $3.175 |
| Oct | $156.100 | + $5.450 |
| Nov | $157.625 | + $6.900 |
| Jan ’18 | $153.850 | + $6.325 |
| Mar | $150.300 | + $4.925 |
| Apr | $150.100 | + $4.575 |
| May | $149.750 | + $4.150 |
| Aug | $150.025 | + $4.025 |
| Live Cattle | Sept. 22 | Change |
| Oct | $111.575 | + $3.825 |
| Dec | $117.425 | + $4.600 |
| Feb ’18 | $120.050 | + $3.300 |
| Apr | $121.950 | + $3.250 |
| Jun | $114.900 | + $2.950 |
| Aug | $112.025 | + $2.325 |
| Oct | $112.975 | + $2.150 |
| Dec | $114.350 | + $2.150 |
| Feb | $115.000 | + $2.050 |
| Corn futures | Sept. 22 | Change |
| Dec | $3.534 | – $0.138 |
| Mar ’18 | $3.660 | – $0.096 |
| May | $3.744 | – $0.078 |
| Jul | $3.814 | – $0.070 |
| Sep | $3.880 | – $0.092 |
| Dec | $3.964 | – $0.108 |
| Oil CME-WTI | Sept. 22 | Change |
| Nov | $50.66 | + $0.22 |
| Dec | $51.03 | + $0.22 |
| Jan 18 | $51.31 | + $0.22 |
| Feb | $51.47 | + $0.17 |
| Mar | $51.56 | + $0.12 |
| Apr | $51.60 | + $0.09 |
Equities
| Equity Indexes | Sept. 22 | Change |
| Dow Industrial Average | 22349.59 | + 81.25 |
| NASDAQ | 6426.92 | – 21.55 |
| S&P 500 | 2502.22 | + 1.99 |
| Dollar (DXY) | 92.14 | + 0.30 |