Market Highlights: High Feedlot Placements Means Demand for Feeders

FED CATTLE: Fed cattle traded $5 to $6 higher than last week on a live basis. Prices on a live basis were mainly $112 to $114 while dressed prices were mainly $175 to $180.

The 5-area weighted average prices thru Thursday were $110.00 live, up $3.65 from last week with no dressed trade occurring through Thursday. A year ago prices were $117.52 live and $187.87 dressed.

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Cattle feeders did not have any intention of doing any business prior to the mid-week holiday and then held out until Friday to do most of their marketing. The strategy paid off this week with strong gains on finished cattle prices.

The higher prices may not pull closeouts completely out of the red, but it will reduce losses significantly and may make a few cattle profitable. This price resurgence does not necessarily mean fed cattle prices have hit their summer low as the potential to move to the $105 area remains feasible.

However, higher prices this week may be shedding some light that moving that low is not as likely as previously thought. The stronger live cattle prices have also strengthened cattle feeders’ outlook which means strong demand for feeder cattle.

BEEF CUTOUT: At midday Friday, the Choice cutout was $208.13 down $0.30 from Thursday and down $8.98 from last Friday. The Select cutout was $199.08 up $0.38 from Thursday and down $0.75 from last Friday. The Choice Select spread was $9.05 compared to $13.33 a week ago.

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It was mentioned last week that Choice beef could very well test the $200 price point. In one week’s time, more than half of Choice beef’s buffer was shaved off. Though packers are well into triple digit profits per head, declining wholesale beef prices will have them on the edge of their seats and ready for action. This is further exacerbated by stronger finished cattle prices this week. Looking more broadly at the beef market, the U.S. has been a net exporter of beef the first six months of 2018. However, fresh beef imports the first six months of the year are five percent greater than the same months in 2017. The top beef import sources are Canada, New Zealand, Australia, and Mexico. Canadian beef imports are up ten percent compared to a year ago and total 134,146 metric tons while New Zealand imports are up nine percent and total 118,839 metric tons. Similarly, Australian fresh beef imports increased two percent to 107,612 metric tons while Mexico beef imports are up six percent to 98,003 metric tons.

OUTLOOK: Due to the Independence Day holiday, Tennessee weekly cattle auctions were not reported this week. Thus, there are no cattle price trends to report compared to a week ago. Information that is available to report and discuss is feeder cattle futures and sale results of feeder cattle from the Lower Middle Tennessee Cattlemen’s Association July sale.

August feeder cattle futures have been on a roller coaster ride since the beginning of the year. The August contract nearly traded at the $156 price mark in mid to late February before bottoming out with a trade at the $135 price point in early April.

The August feeder cattle futures price from early April through late June has bobbed, weaved, ducked, and dived. However, in the past couple of weeks, August feeder cattle futures have surged to a price level exceeding $152 per hundredweight.

The three remaining summer and fall contract months fell in line with the August contract and are trading fairly steady with August. The higher futures price has supported local feeder cattle prices as was evident with strong prices on the July 6th Lower Middle Tennessee Cattlemen’s Association sale. Five loads of steers with average weights ranging from 890 to 940 pounds brought from $1,231 to $1,276 per head while four loads of heifers with average weights ranging from 775 to 835 pounds sold for $1,015 to $1,092 per head.

Comparing the June sale and the July sale, August feeder cattle futures for the July sale date traded about $6 higher than they did on the day of the June sale. Looking at cash prices, prices for the July sale were $6 to $10 higher for steers than last month while heifer prices were $3 to $4 higher compared to a month ago.

Demand for feeder cattle was marked as strong and this is likely due to reduced feeder cattle offerings due to strong feedlot placements the past few months. There is a strong likelihood that feeder cattle prices will remain strong through the summer marketing period as is seasonally expected.

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ASK ANDREW, TN THINK TANK: At least twice a year, a question concerning custom rates for field work is asked. This question came through an email this week for rates concerning mowing, teddering, raking and baling hay. In 2013, a survey of custom operators in Tennessee was conducted and the results of that survey can be found at the following web address https://ag.tennessee.edu/arec/Documents/publications/CustomRates2013-rev.pdf. The results of the survey are five years old, but the rates are a good starting point for today’s custom rates. Custom rates in the publication include tillage operations, fertilizer and chemical application, planting, grain and hay harvest, and machinery rental rates.

Please send questions and comments to agriff14@utk.edu or send a letter to Andrew P. Griffith, University of Tennessee, 314B Morgan Hall, 2621 Morgan Circle, Knoxville, TN 37996.

FRIDAY’S FUTURES MARKET CLOSING PRICES: Friday’s closing prices were as follows: Live/fed cattle –August $106.38+0.00; October $109.73 -0.40; December $113.70 -0.58; Feeder cattle –August $152.20 -0.38; September $152.28 -0.30; October $152.15 -0.38; November $152.03 -0.53; July corn closed at $3.52 up $0.08 from Thursday.

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Submitted by Lisa Joy on Mon, 07/09/2018 - 17:55

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In reply to by Lisa Joy (not verified)

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In reply to by EVELYN JENKINS (not verified)

Submitted by DIANA DIVEN on Fri, 07/13/2018 - 14:51

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In reply to by DIANA DIVEN (not verified)

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In reply to by Lisa Joy (not verified)

Submitted by EVELYN JENKINS on Wed, 07/11/2018 - 01:29

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Hello my respectable viewers, My names are EVELYN JENKINS and i'm from (FLORIDA, UNITED STATE) I am very happy to share this amazing testimony, i was hurt and heart broken when my husband left me with our kid, i was confused and didn't know what to do, i loved him so much, i tried all i could to bring him back but all my effort was in vain , on one faithful day i explained my problem to my friend, and she told me of a great love spell caster called "LORD JUMA" whom also make her pregnant when she was looking for a child, i never believed in spells but i have give a try to see if things will get better, i contacted LORD JUMA through the contact info my friend gave to me, after some hours the spell caster responded to me he told me to stay and gave me some instructions on what to do and i did exactly as i was told, to my greatest surprise, my husband who has not called me for a very 3 yrs , called me and start apologizing for all the wrongs he did to me and pleaded with me that he want to return home with me and the kids, now he loved me more than ever before, my respectable viewers brothers and sisters if you are passing through any kind of problem contact him and i give you 100% guarantee that he will solve your problems. this is his contacts: mercyfullsolutionhome@yahoo.com or mercyfullsolutionhome@gmail.com his website: http://mercyfullsolutionhome.blogspot.com or https://evelynjankins.blogspot.com/ add him up on whatsApp at: +1 (859)-203-2241

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Submitted by DIANA DIVEN on Thu, 07/12/2018 - 21:27

REAL SPELL CASTER (LORD JUMA) THAT CAN HELP YOU GET YOUR LOVER BACK add him up on WhatsApp @ +1 (859)-203-2241.

Hi everyone, I was going crazy when my husband breakup with me and left me for another woman!! All thanks to LORD JUMA the best love spell caster online that helped me to bring back my husband today and restore happiness in my marriage.. I'm DIANA DIVEN by name i lives in England. My husband breakup with me and left me to be with another woman, and i wanted him back. I was so frustrated and i could not know what next to do again, I love my husband so much but he was cheating on me with another woman and this makes him break up with me so that he can be able to get married to the other lady and this lady i think use witchcraft on my husband to make him hate me and my kids and this was so critical and uncalled-for, I cry all day and night for God to send me a helper to get back my husband!! I was really upset and i needed help, so i searched for help online and I came across a website that suggested that LORD JUMA can help get ex back fast. So, I felt I should give him a try. I contacted him and he told me what to do and i did it then he did a spell for me. 28 hours later, my husband really called me and told me that he miss me so much, Oh My God! i was so happy, and today i am happy with my man again and we are joyfully living together as one big family and i thank the powerful spell caster LORD JUMA, he is so powerful and i decided to share my story on the internet that LORD JUMA is best spell caster online who i will always pray to live long to help his children in the time of trouble, if you are here and your lover is turning you down, or your husband moved to another woman, do not cry anymore, contact this powerful spell caster LORD JUMA on his email at: mercyfullsolutionhome@yahoo.com or mercyfullsolutionhome@gmail.com you can visit his Website Via> https://mercyfullsolutionhome.blogspot.com add him up on WhatsApp @ +1 (859)-203-2241 .

Submitted by NORA CHRIST on Fri, 07/13/2018 - 14:52

GREAT LOVE SPELL CASTER LORD JUMA THAT HELP ME SAVE MY RELATIONSHIP.TEXT OR ADD HIM UP ON WHATSAPP: +1 (859)-203-2241

My name is NORA CHRIST. i want to give thanks to LORD JUMA for bringing back my ex husband. No one could have ever made me believe that the letter I’m about to write would actually one day be written. I was the world’s biggest skeptic. I never believed in magic spells or anything like this, but I was told by a reliable source (a very close co-worker) that Trust is a very dedicated, gifted, and talented person,It was one of the best things I have ever done. My love life was in shambles; I had been through two divorces and was on the brink of a third. I just couldn't face another divorce, and I wanted to try harder to make our relationship work, but my husband didn’t seem to care. and he brake up with me again.I was confuse and do not no what to do again,rather them to get in contact with LORD JUMA. He did a love spell that make my husband come back to me. we are now very much happy with our self. LORD JUMA make him to realize how much we love and need each other.This man is for REAL and for good.he can also help you to fix your broken relationship. I had my husband back! It was like a miracle! He suddenly wanted to go to marriage counseling, and we’re doing very, very well,in our love life.contact email mercyfullsolutionhome@yahoo.com or mercyfullsolutionhome@gmail.com his website: http://mercyfullsolutionhome.blogspot.com add him up on whatsApp at: +1 (859)-203-2241

Submitted by veronica on Fri, 07/13/2018 - 21:12

hello,
Am writing this article to appreciate the good work of DR Abiodun that helped me recently to bring back my Husband that left me for another lady for no reason for the past 8 months . After seeing a post of a woman on the internet testifying of how she was helped by DR Abiodun. I also decided to contact him for help because all i wanted was for me to get back my Husband happiness and to make sure that my child grows up with his father. Am happy today that he helped me and i can proudly say that my Husband is back with so much love and joy like never before thanks Dr contact email drabioduntemple@gmail.com,Dr Abiodun have a solution for those problems,
Pregnancy;
Lottery
HIV/AIDS
Business
E.T.C.

Submitted by Grecia Cruzi on Sat, 07/14/2018 - 04:18

MY HUSBAND IS BACK WITH THE GREAT HELP OF DR SAM LOVE SPELL

Hi everyone, I Was going crazy when my husband breakup with me and left me for another woman!! All thanks to Dr Sam the best love spell caster online that helped me to bring back my husband today and restore happiness in my marriage.. I'm Grecia Cruzi by name i lives in United States. My husband breakup with me and left me to be with another woman, and i wanted him back. I was so frustrated and i could not know what next to do again, I love my husband so much but he was cheating on me with another woman and this makes him break up with me so that he can be able to get married to the other lady and this lady i think use witchcraft on my husband to make him hate me and my kids and this was so critical and uncalled-for, I cry all day and night for God to send me a helper to get back my husband!! I was really upset and i needed help, so i searched for help online and I came across a website that suggested that Dr Sam can help get ex back fast. So, I felt I should give him a try. I contacted him and he told me what to do and i did it then he did a spell for me. 28 hours later, my husband really called me and told me that he miss me so much, Oh My God! i was so happy, and today i am happy with my man again and we are joyfully living together as one big family and i thank the powerful spell caster Dr Sam, he is so powerful and i decided to share my story on the internet that Dr Sam is best spell caster online who i will always pray to live long to help his children in the time of trouble, if you are here and your lover is turning you down, or your husband moved to another woman, do not cry anymore, contact this powerful spell caster Dr Sam on his email at: (Supremespellcast@gmail.com Or Supremespellcast@yahoo.com WhatsApp +2347087462033) com you can visit his Website Via> http://supremespellcast.website2.me Or his blog> https://supremespellcast.blogspot.com

Submitted by Hansford Ann on Sat, 07/14/2018 - 09:45

My name is Handford Ann,i base in canada.i want to share my wonderful testimony on how i got back my ex-lover of my life back, he left me for another woman for no reason and i try to make things work for both of us yet things where getting worse and i love him so much and there is nothing i could do to get my ex back until i met a testimony share by Maria from USA on the internet talking about a powerful spell caster who brought his ex lover back within 48hours and i decide to give it a try and to my greatest surprise he also did it for me just as he did for Maria and i have a lot of people complaining of fake spell caster but this one i met was a real spell caster who help me to solve my problem i have no solution to,i introduce many of my best friends that have a similar problems,and their problem were solve with the great help of Dr.Trust. They get back their ex within 48 hours. I am so happy that my ex is back to me again,and the most surprise,is that our love is very strong,every day is happiness and joy. and there is nothing like been with the man you love.i am so happy my love is back to me with the help of Dr.Trust. If you have any problem in your relationship i will advice you to contact him now (Ultimatespellcast@yahoo.com or Ultimatespellcast@gmail.com) His website for more testimony of him: http://utimatespellcast.blogspot.com Call or Text him now +1(317) 762-7416

Submitted by Natalia on Sun, 07/15/2018 - 02:23

All thanks to Dr ekpen for helping me to restore my marriage after 4years of separation,i thought it was over until i met a wonderful spell caster dr ekpen who help me to get back my ex within 28hours as he promise what a great spell caster i have ever seen. If you are there and your lover is turning you down, or your husband moved to another woman, do not cry anymore contact for your help today on

email: kizzekpespells@outlook.com

Submitted by savannah on Mon, 07/16/2018 - 04:24

Savannah

This is my testimony about the good work of Dr ogudu who help me.... I'm Savannah from usa. And am sorry for putting this on net but i will have to by this world top spell caster that brought back my husband which left me out for past 2 years, i eventually met this man on a blog site posting by one of is client for help, i explained everything to him and he told me about a spell caster that he had heard about and he gave me an email address to write to the spell caster to tell him my problems. In just 2 days, my husband was back to me. I just want to say thank you to this truthful and sincere spell caster, sir all you told have come to pass and thank you sir. Please i want to tell everyone who is looking for any solution to problem, i advice you to kindly consult this spell caster, he is real,he is powerful and whatever the spell caster tell is what will happen, because all what the spell caster told me came to pass. You can kindly contact him on: his email address is oguduspell@gmail.com or directly on whasapp +2348155704374