Cash Cattle:
Fed cattle cash prices ended the week higher, continuing their weekly record setting pace of late. The five-area fed steer price ended the week at $152.26 for live sales, up $2.16, and $243.48 for dressed, up $3.37 to a new record. Live cattle in the Southern Plains traded at $150 to $152. On Tuesday in Nebraska, live sales were from $152-$154 and dressed were at $244-$245. Trade in the Western Cornbelt on Wednesday registered $152 and $244 respectively for live and dressed cattle. Feeder steers and heifers in Oklahoma City were $1-$3 higher, heavy feeders were $1 lower. Stockers and calves were $3-$6 higher. In Mississippi auction markets, steers and heifers were called $1-$5 higher, while cull cows and bulls were steady. [ ... For Livestock Prices and Production data and trends CLICK HERE ... ]
Futures:
Cattle futures ended the week on a higher note. Last Friday's Cattle on Feed report dampened the market's spirit for all of a few minutes in the opening on Monday. Corn futures were up 1.5%, for more distant months, to almost 3%, for old crop contracts. Monday's prospective plantings report will set the stage for the (most likely delayed) growing season and there was definitely positioning ahead of that report this week.The average guess for planted acres is 93.014 million. However, Thursday's export report provided quite a boost with USDA showing new sales at.1.408 million metric tons for the current marketing year putting total (current and pending) exports at 98% of the USDA forecast compared to a typical level of 77%. [... Come back Monday for our breakdown of the acreage and inventory reports and listen to weekly podcast which will highlight the markets with emphasis on Monday's reports this Monday afternoon (CLICK HERE) ... ]
Beef:
Wholesale beef was lower this week. Choice boxed beef averaged $239.57 for the week, down $2.84. Select averaged $232.45, down $3.15.
|
April
1 Board Sale, Winona
3 Clay/Lowndes CCA
4 Beef Boot Camp, MSU
7 Amite CCA
10 Magnolia Beef Expo, Raleigh 10 Panola CCA
11 Beef Boot Camp, Raymond
|