Week Ending May 26, 2017

Week Ending May 26, 2017

Steers and heifers sold mostly steady to $6/cwt. higher, with instances of $7-$10 higher according to the Agricultural Marketing Service (AMS). There were also instances of $1-$3 lower on feeders.

“Feeder demand saw an increase as farmer feeders are still looking for good quality cattle to put on feed,” AMS analysts said. “Many farmers could attend the sales as they either completed their planting or are experiencing a standstill due to heavy rain late last week and throughout the weekend…Sale barns in the Northern Plains and Midwest switched to their summer schedules with sales running every other week or closed throughout the season.”

For the week, cash fed cattle trade was mostly $1-$3 lower at $132.00-$132.50/cwt.

“The feeder market continues to thrive despite slaughter cattle losing ground on Wednesday in direct feedlot trade. The momentum from the previous week’s positive advances continued to lend support and add confidence in the minds of feeder buyers,” AMS analysts explain.

The monthly Cattle on Feed report issued Friday—showing at least 4% more April placements than expected—may challenge that confidence.

 

Friday to Friday Change*

 

Weekly Auction Receipts

Receipts Auction Change Direct Change Video/Internet Change Total Change
May 26 163,500 -18,600 38,500 +13,100 9,400 -20,100 211,400 -25,600

 

CME Feeder Index

CME Feeder Index May 25 Change
  $143.89 + $0.03

*Thursday-to Thursday for CME Feeder Index

 

Cash Stocker and Feeder

North Central

Steers-Cash May 26 Change 
600-700 lbs. $169.76 + 0.59
700-800 lbs. $158.57 + 1.39
800-900 lbs. $147.50 +1.00

South Central

Steers-Cash May 26 Change
500-600 lbs. $171.49 + 2.15
600-700 lbs. $158.67 + 1.37
700-800 lbs. $148.05 +1.94
800-900 lbs. $141.92 +1.27

Southeast

Steers-Cash May 26 Change 
400-500 lbs. $165.43 + 0.57
500-600 lbs. $157.15 + 0.48
600-700 lbs. $149.30 +1.67

(AMS National Weekly Feeder & Stocker Cattle Summary)

 

Wholesale Beef Value

Boxed Beef  (p.m.) May 26 ($/cwt) Change
Choice $245.60 – $1.54
Select $218.45 – $2.97
Ch-Se Spread $27.15 + $1.43

 

Futures

Feeder Cattle  May 26 Change
Aug $146.950 – $3.500
Sep $146.750 – $3.475
Oct $145.775 – $3.300
Nov $144.275 – $2.525
Jan ’18 $138.450 – $2.325
Mar $135.325 – $1.950
Apr $134.875 – $1.750
Aug $134.025 n/a

 

Live Cattle  May 26 Change
Jun $122.700 – $0.750
Aug $118.950 – $2.100
Oct $115.100 – $1.575
Dec $115.950 – $0.975
Feb ’18 $116.600 – $0.500
Apr $115.225 – $0.200
Jun $107.925 – $0.425
Aug $105.375 – $0.575

 

Corn futures May 26 Change
Jul $3.742 + $0.018
Sep $3.816 + $0.020
Dec $3.924 + $0.022
Mar ’18 $4.022 + $0.022
May $4.084 + $0.030
Jul $4.132 + $0.030

 

Oil CME-WTI May 26 Change
Jul $49.80 – $0.87
Aug $50.05 – $0.87
Sep $50.23 – $0.90
Oct $50.36 – $0.94
Nov $50.49 – $0.96
Dec $50.59 – $0.97

 

Equities

Equity Indexes May 26 Change
Dow Industrial Average 21080.28 + 275.44
NASDAQ 6210.19 + 126.49
S&P 500 2415.82 +   34.09
Dollar (DXY) 97.40 +     0.29

 

 

2017-05-30T13:03:04+00:00

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