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 |