At the Chicago
Mercantile Exchange, live cattle futures closed firm on commercial buying and some
carry over support from Monday’s sharply higher wholesale values. Feeder cattle closed weak to lower on profit
taking and contracts were pressured by the day’s modestly higher corn
trade. Contracts are at a premium to
cash.
February live cattle
closed $.97 higher at $126.70 and April live cattle closed $.62 higher at
$127.62. March feeder cattle closed $.40
lower a t$143.82 and April feeder cattle closed $.37 lower at $145.45.
Direct cash cattle trade activity remains relatively
quiet. There have been a few bids
surface in Eastern Nebraska at $196. Asking
prices have yet to be established. With
the larger showlists – there’s an opportunity for packers to play catch-up. Wednesday’s Fed Cattle Exchange has an
offering of just 294 head. Don’t look
for significant trade volume to develop until the latter half of the week.
At the Callaway
Livestock Center in Missouri, receipts were up on the week and the year. Compared to the latest stale, steers under
500 pounds were steady, steers 500 to 750 pounds were $3 to $5 higher with
spots of $6 higher on 600 to 650-pound steers.
Feeder heifers 450 to 650 pounds closed $5 to $8 higher. The USDA says demand was moderate to good
with a moderate to heavy supply. There
were several pot loads, part loads and strings of very good quality feeder
steers and all sold on an active market.
Feeder supply included 64 percent steers and 61 percent of the offering
was over 600 pounds. Medium and Large 1
feeder steers 653 to 678 pounds brought $155 to $161.75 and feeder steers 702
to 723 pounds brought $151 to $162.
Medium and Large 1 feeder heifers 602 to 645 pounds brought $142.50 to
$152.50 and feeder heifers 757 to 783 pounds brought $127.75 to $132.60.
Boxed beef values closed weak on light to moderate demand and offerings.
Continue reading Hog futures lower on profit-taking at Brownfield Ag News.
