![]() I have driven across much of the state in recent weeks and it appears that most winter wheat is up with stands that vary from spotty to good. Smaller volumes will likely persist for the rest of the year at least. In other words, the cumulative total of increased early sales of feeder cattle still far exceeds the reduction in the past six weeks. Since mid-October, feeder volumes have been bringing the cumulative total since July 1 down to 52,808 head. In the 16 weeks from July 1 through mid-October, the cumulative extra feeder cattle volume over last year totaled 71.397 head. The volume of feeder cattle in Oklahoma auctions last week was down 19.4 percent compared to the same week last year. Oklahoma feeder auction volumes have been smaller five of the past six weeks after being higher year over year all summer and early fall. ![]() Improving Feeder futures prices, a stronger fed cattle market and limited supplies of feeder cattle all combined to push prices higher. Several factors contributed to the strength in feeder prices. higher and all classes were $6-$10 higher after Thanksgiving. Calf prices, in particular, were $10-$15/cwt. 87 lower at 87.97 and February was down 1.20 at 87.80.Oklahoma feeder cattle auction prices jumped sharply the week after Thanksgiving. This is putting even more pressure on the idea growing supplies will continue to keep commercial and noncommercial buyers away from the market even after the early week price bounce. Lean hogs settled 25 to 120 lower as any buyer support that developed early in the session was washed away by further pressure in both cash hog prices and pork cutout values in the morning reports. The Tuesday hog slaughter was estimated at 432,000 head, the same as last week, but down 2,000 from last year. Belly prices also have improved modestly but the belly primal remains some 14% below year-ago levels. Most agree that pork retail items remain vulnerable to further price erosion over the next two to three weeks as retailers focus on Thanksgiving promotions and features. All cuts finished the day lower with bellies down over $8.00. The pork carcass cutout value FOB plant was 2.27 lower 95.67. Midwest hogs on a live basis were steady from 56.00 to 70.00. Missouri direct base carcass meat price closed steady to 3.00 lower from 75.00 to 81.00. 13 at 85.57, and the East was not reported due to confidentiality. 81 lower at 85.63 weighted average on a carcass basis, the West was down. ![]() 87 lower at 87.97 and February was down 1.20 at 87.80.īarrows and gilts in the Iowa/Minnesota direct trade closed. Feeder steers, medium and large 1, calves weighing 638 pounds averaged 245.95 per hundredweight. Quality was improved and average to attractive. Demand was very good for lightweight cattle suitable for early wheat as well as heavier weight thin fleshed or long weaned cattle. Steer and heifer calves were 4.00 to 10.00 higher. Compared to the previous week, feeder steers and heifers sold 1.00 to 4.00 higher. November settled 1.55 higher at 237.12, and January was up 1.80 at 231.60.įeeder cattle receipts at the Oklahoma National Stockyards on Tuesday were estimated at 8350 head. Growing focus on harvest progress through most of the Corn Belt and lack of follow through support which was seen in October created some additional strong buyer support through the feeder cattle market. 12 at 167.40.įeeder cattle ended the session 132 to 187 points higher on the aggressive pressure that redeveloped in the grain complex. But the lack of support in the grain markets also created some spillover trade activity. Index rolling took place through the week, which helps to partially explain the weakness in the front month contract compared to the deferred contracts. Live contracts slipped through the morning trade with moderate pressure. Live cattle contracts on the Chicago Mercantile Exchange settled 40 points lower to 52 higher. The cattle kill totaled 115,000 head, 1,000 more than last week, but 3,000 smaller than last year at this time.īoxed beef cutout values were weak to lower on light to moderate demand and moderate offerings. We could see better buying interest surface as early as Wednesday or Thursday as packers remain short bought. A few showlists have been priced around 170.00 to 171.00 in the South and 268.00 plus in the North. Feedlot country remained quiet on Tuesday afternoon with bids and asking prices poorly defined.
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