CME GRAINS: Corn: $4.2075 (-5.25); Soybeans: $11.62 (-6.50); Wheat: $5.7725 (-7.75) (Tue 1:20 pm)
STOCK FLASH: Dow 30: 29,823.92 (+185.28); Nasdaq: 12,355.11 (+156.37); S&P 500: 3,662.45 (+40.82) (Tue 3:00 pm)
MEATBOARD: Boxed Beef Choice: $243.34 (-0.34); Pork Carcass: $77.08 (-3.01); Chicken Breast: $93.94 (-6.20) (Tue pm)
The largest steer and heifer string sold on Tuesday was 241 steers (781#) from Lexington, Kentucky at $139.00. The second largest string was 210 heifers (438#) from North Platte, Nebraska at $175.50. The average price paid for the largest steer and heifer strings on Tuesday was $149.33.
The largest steer string sold so far this week on the National Steer Tracker (700-899#) was 312 steers (810#) from Joplin, Missouri at $145.25. The second largest steer string was 241 steers (781#) from Lexington, Kentucky at $139.00. The average price for the top 25 steer strings (700-899#) sold so far this week was $139.31. The price range was $130.85 - $146.10.
Cattle Weights Maintain Record Pace
U.S. live cattle weights averaged 1,385 pounds in October 2020, up 6 pounds from last month and up 25 pounds from last year. Cattle weights have averaged 1,370 pounds so far in 2020. Cattle weights in 2020 are on pace to be the heaviest on record.
Total red meat supplies in freezers were up 1 percent from the previous month but down 12 percent from last year. Total pounds of beef in freezers were up 8 percent from the previous month and up 7 percent from last year. Frozen pork supplies were down 4 percent from the previous month and down 27 percent from last year. Stocks of pork bellies were down 21 percent from last month and down 57 percent from last year.
CATTLE FLASH: USDA estimates daily cattle slaughter at 122,000 head, compared to 122,000 last week and 122,000 last year (Tue)
CATTLE FLASH: Feeder Cattle Futures Surge Higher... Jan Feeders reached their highest point since August today. Funds were record short feeders over 8k contracts in October. As of last Tuesday that short position had been whittled down to 697 shorts, and today’s action raises an eyebrow that more fund buying is taking place (The Beef)
DAILY DROP: The hide and offal value was estimated at $8.45, unchanged from Tuesday
Corn Progress By State
Estimated Weekly Meat Production
Export Sales Highlights
Farms and Land in Farms Highlights
Livestock, Dairy & Poultry Outlook
Milk Production By State
National Drought Monitor
National Feeder Cattle Report
National Grain Report
Natural Gas Weekly Update
Number Of Farms By State
Quarterly Hogs & Pigs
Top 25: Largest Steer & Heifer Strings Sold Today
United States Ag Production Report
USDA Grain Stocks Report
USDA Prospective Plantings Report
WASDE: Feed Grain Outlook
WASDE: Livestock, Dairy & Poultry Outlook
WASDE: Oilseed Outlook
WASDE: Wheat Outlook
Rob Cook, RobCookKC@gmail.com