It is becoming more apparent that the supply of calves is going to be very tight this fall. The chart below shows steer calf prices in the Southern Plains, which have been increasing through July and August. A strong calf market going into fall is a good sign for cow-calf operators that calve in the spring and will be marketing calves in the coming months. Heavy feeders typically make their highs around this time of year, but calf markets are increasing counter-seasonally. The October CME© feeder cattle futures contract has increased by more than $10 per cwt since May and this can been seen in the market for heavy feeder cattle. The feeder cattle market has really flexed its muscles as we have moved through summer. Kenny Burdine, Extension Professor, Livestock Marketing, University of Kentucky Estimated hog slaughter was 461,000 head – up 2,000 on the week and down 7,000 on the year.– Dr. Butts, bellies, picnics, and loins were higher. Pork values closed higher – up $1.16 at $80.89. Boars ranged from $15 to $25 and $5 to $10. Barrows and gilts were $3 higher with moderate demand for moderate offerings at $50 to $60. At Illinois, slaughter sow prices were $2 higher with moderate demand for moderate offerings at $16 to $25. Barrows and gilts at the National Daily Direct closed $.94 lower with a base range of $84.00 to $96 and a weighted average of $93.32 the Iowa/Minnesota closed $.20 higher with a weighted average of $94.75 the Western Corn Belt closed $.77 lower with a weighted average of $93.78 the Eastern Corn Belt closed $.06 higher with a weighted average of $90.73.īutcher hog prices at the Midwest cash markets were steady at $62. Between the summer grilling season and the implementation of Prop 12, there is plenty to monitor on the domestic demand front. Pork export sales were up on the week, but slightly below the last month’s average. Processors were able to move decent numbers without having to get too aggressive in their procurement efforts. July lean hogs closed $.85 lower at $91.92 and August lean hogs closed $.62 higher at $90.30.Ĭash hog closed mixed with a solid negotiated run. Lean hog futures were mixed, adjusting spreads watching supplies and long-term demand. Estimated cattle slaughter was 126,000 head – up 1,000 on the week and down 1,000 on the year. Medium and Large 1 feeder heifers 603 to 645 pounds brought $244.75 to $250 for an average price of $245.47 and feeder heifers 663 to 689 pounds brought $228 to $242.50 for an average price of $236.42.īoxed beef closed higher on solid demand for moderate offerings. Medium and Large 1 feeder steers 657 to 690 pounds brought $256.50 to $261 for an average price of $257.25 and fancy feeder steers 918 to 940 pounds brought $229.75 to $234.50 for an average price of $230.54. Feeder supply included 69% steers and 76% of the offering was over 600 pounds. Receipts were down from two weeks ago and on the year. The USDA says demand was good from the buyers in the crowd. Look for more trade to develop before the end of the day Friday.Īt the Huss Livestock Market in Nebraska, steers over 650 pounds were $5 to $10 higher and heifers 500 to 750 pounds were $10 to $15 higher. Bids were well below last week’s business and continue to be passed. Deals in Nebraska were marked at $296 dressed, $4 below the previous week’s weighted average basis in Nebraska. There was another light round of direct cash cattle business reported on Thursday. August feeder cattle closed $1.77 lower at $234.12 and September feeders closed $1.60 lower at $237.52. August live cattle closed $.10 higher $171.07 and October live cattle closed $.22 higher at $174.35. Feeders were pressured by the higher move in corn. At the Chicago Mercantile Exchange, live cattle were mostly higher ahead of widespread direct cash business.
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