Cash Cattle Lower, COF Inventory Higher

Nebraska feedyard
Nebraska feedyard
(CAB)

Cash fed cattle prices were significantly softer than many feeders anticipated, with trade in the South at $105 to mainly$106, about $2 lower. Cattle in the North traded at $104 to $105 live and $163 to $165 dressed, $3 to $6 lower. A few cattle traded in Iowa at $103 to $104.

Friday’s USDA cattle on feed report counted on feed inventories at 11.7 million head, 4% higher than last year and record large for the month. Marketings were pegged at 1.85 million head, 6% higher than last year. Placements were up 6% at 2.23 million head. September was the fourth consecutive month of larger placements.

CME December live cattle rose a dime to $103.575 on Friday, but down $3.05 for the week. February live cattle slipped another 15 cents lower to $106.626 and falling $4.85 this week. November feeders dropped 77.5 cents Friday to $129.65 and down $5.375 for the week.

Feeder steers and heifers sold $4 to $8 lower at auctions, according to AMS reporters.

“This week’s lack of robust demand was two-fold.  Too many calves coming off the cow coupled with a sharply lower CME Cattle Complex made for a tough situation when it came to the sale ring at local livestock auctions,” AMS said.

Auction receipts totaled 248,500 head compared to 243,900 last week and 290,200 last year.

 

Latest News

Winter cattle feeding
Cash Cattle Weaker As Grain Rallies

Cash cattle prices slipped lower throughout the week as packer demand was called moderate. Grain markets posted a significant rally on the heels of USDA's report on Tuesday.

2 hours ago
Packing plant workers
Fired Tyson Managers: ‘Betting Pool’ Stories Distorted

Former Tyson Foods Waterloo, Iowa, plant managers dispute claims of how an "office pool" regarding COVID-19 was portrayed in news stories and deny it was about how many employees would contract the virus.

1 hour ago
Dream Lake with Hallett Peak in the background, at Rocky Mountain National Park.
Hi-Plains Researchers To Help Protect Rocky Mountain National Park

A Texas A&M AgriLife team will work with the Colorado Livestock Association and other stakeholders to refine and evaluate practices to reduce agricultural ammonia emissions into Colorado’s Rocky Mountain National Park.

12 min ago
AL Ranch
Beef. It’s What’s For Dinner. Launches “MBA NextGen”

MBA NextGen updates the popular MBA training modules making it easier than ever for a new generation of farmers and ranchers to share their story and advocate knowledgeably for the beef industry.

8 min ago
Greg Henderson
Overall Meat Sales Higher In 2020

Meat sales - both dollar values and volume - were significantly higher in 2020. Those gains, however, came at the expense of a crippled restaurant and food service industry that may take years to recover.

9 min ago
Progressive Beef
Progressive Beef and Wendy’s® Advance Partnership

Wendy's announces 15% increase in percentage of beef sourced through Progressive Beef-certified producers in 2020; on track to meet goal of at least 50% this year.

14 min ago