The latest USDA Cattle on Feed report released Friday showed larger supplies of cattle placed into feedlots than most analysts expected prior to the report. The report showed a three percent increase in the number of cattle placed into feedlots … Continue reading
Continuing on with the discussion of seasonal cycles in Mississippi Cattle Prices, this week we are looking at a primary source of revenue for many operations: feeder steers. Feeder steer prices in Mississippi are dependent upon prices around the country. Feedlot … Continue reading
Cull cow prices are an important factor for many operations in the Southeast. Most operations wean calves in the fall months, and that is also when they select cows for culling and begin to sell them. As we approach the … Continue reading
This week’s article comes from a recent publication by the Livestock Marketing Information Center (LMIC). Total U.S. red meat and poultry production are often cited as “record high,” which is correct this year and last, and LMIC forecasts that situation … Continue reading
The latest cattle on feed report released by USDA on Friday showed a feedlot inventory of 10.6 million head. This is a 4.3 percent increase over August 1, 2016, and is the largest inventory for August since 2012. In total, … Continue reading
Hay production in the Southeast is estimated to be down by slightly less than one million tons as compared to 2016 levels according to USDA-NASS (National Agricultural Statistics Service) based on crop conditions as of August 1. This is approximately a … Continue reading
Cattle futures markets were down significantly last week including a 4.5-cent limit decrease last Wednesday for the August feeder cattle contract. Live cattle trading at the time of this writing has the nearby contract at just under $109 and the … Continue reading
The Japanese government announced on Friday that imports of U.S. beef reached the level to trigger an automatic increase in the tariff rate on frozen U.S. beef. Japan is the top export market for U.S. beef and 2017 has seen … Continue reading
Cattle Quick Thoughts
The cattle on feed report showed a 4 percent increase in the number of cattle on feed on July 1 over last year. It also reported a 16 percent increase in placements and a 4 percent increase in marketings in June of 2017 as compared to June of 2016. This is much larger than expected and cattle futures prices have opened significantly lower today in response to this report and the cattle inventory report. To continue reading this article click HERE…
Cash traded fed cattle prices were mostly steady last week. Live cattle were down 15 cents to an average of $119.33 while dressed steers were down 34 cents to an average of $189.74.
Feeder cash prices were higher last week in Mississippi. Mississippi feeder steers weighing 450-500 pounds were up $1 to an average of $153.50 while 750-800 pound steers were up $1.50 to $130.50. Average feeder prices last week in Oklahoma City were at $171.87 for 500-550 pound steers and up $3.02 to $153.24 for 750-800 pound steers.
[ … For more in depth Livestock Prices and Production data and trends CLICK HERE… ]
Futures prices were lower at the end of the week. August live cattle were down $1.63 to $116.43 while October live cattle were down $1.43 to $117.40. August feeder cattle were down $1.85 to $152.95 while September feeder futures were down $1.50 on the week to $153.15. Corn futures prices were lower with September and July down a nickel to $3.72 and $3.85, respectively.
Boxed beef values fell further last week. Choice boxes averaged $207.88, down $5.05 from a week ago. Select boxes averaged $195.39, down $3.53 from last week. The choice-select spread shrunk to $12.49, down $1.52 from last week.
Note: all cattle and beef prices are quoted in dollars per hundredweight and corn prices are quoted in dollars per bushel unless stated otherwise.
The cattle on feed report showed a 4 percent increase in the number of cattle on feed on July 1 over last year. It also reported a 16 percent increase in placements and a 4 percent increase in marketings in … Continue reading