National Ag News

At the Chicago
Mercantile Exchange, cattle futures closed mixed to mostly higher supported by
higher wholesale values, Friday’s cash trade and the latest round USDA reports.  April live cattle closed $.35 higher a
t$129.22 and June live cattle closed $.12 higher at $119.60.  March feeder cattle closed $.40 lower at
$142.50 and April feeder cattle closed $145.65. 

Direct cash cattle trade is quiet as bids and asking prices
have yet to be established.  Today’s
activity has been limited to the collection and distribution of new showlists –
which appear to be mostly larger. 
Colorado is steady, offerings are somewhat higher in Nebraska, and
larger in Kansas and Texas.  Significant
trade volume will be delayed until the latter half of the week. 

At the open, at the
Joplin Regional Stockyards in Missouri, receipts are up on the week and the
year.  Compared to the last sale, steer
calves are steady, heifer calves, and yearlings were weak to $2 lower.  The USDA says demand was moderate to good and
supply was moderate.  Feeder supply included
50 percent steers and 44 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 460 to 496
pounds are at $171 to $189 and feeder steers 657 to 685 pounds are at $142 to
$150.  Medium and Large 1 feeder heifers
510 to 540 pounds are at $134 to $154 and feeder heifers 653 to 693 pounds are $130
to $138. 

Boxed beef closed steady on Choice and sharply higher on
Select on moderate to fairly good demand and light to moderate offerings.  Choice closed $.16 higher at $219.55 and
Select closed $2.22 higher at $214.57.    

Estimated cattle slaughter is 114,000 head – up 4,000 on the
week and 6,000 on the year.

Continue reading Ongoing selloff pressures hog futures at Brownfield Ag News.