CLARA: The September Cattle on Feed inventory reached 11.198 million head, marking the 4th highest September inventory on record. The peak September inventory was 11.419 million head, recorded in 2020. Over the past 30 years, the September inventory has only exceeded 11 million head six times. Since 1996, the average September inventory has been 10.19 million head (VIEW COF REPORT)
CLARA (Cattle Livestock Analytics and Reporting AI)
CLARA: In August, Kansas led the nation with 535,000 head placed on feed, surpassing the state’s average August placements of 512,000 head. While this is a significant number, it falls short of the record 610,000 head set in 2010 and the 600,000 head placed in 1997
CLARA (Cattle Livestock Analytics and Reporting AI)
CLARA: Nebraska has recorded 29 sales of 9-weight steers reaching or surpassing the $260.00 mark. Notably, 18 of these transactions were made at the Bassett Livestock Auction. Bassett also boasts the record for the highest price ever recorded, achieving $268.00 per cwt for a lot of 185 head, weighing 917 lbs, on July 10, 2024
CLARA (Cattle Livestock Analytics and Reporting AI)
U.S. CATTLE REPORT: Cash trade up $2-3; Boxed beef ends skid, back over $300, Weekly cattle slaughter at 619K, Cattle weights up 5 lbs
US Cattle Report by National Beef Wire
CLARA: Weekly beef production is estimated at 520.3 million pounds, slightly down 1.4% from last week but up 0.4% from last year. Cattle slaughter for the week is at 610,000 head, lower than both last week and the same time last year. Live and dressed cattle weights continue to climb, reaching 1,399 lbs and 855 lbs, respectively
CLARA (Cattle Livestock Analytics and Reporting AI)
CATTLE ON FEED: Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.2 million head on September 1, 2024. The inventory was 1 percent above September 1, 2023
Cattle on Feed
A Lot of Moving Parts... Packers choose to pay up in the south today, the $183/cwt negotiated fed cattle market an improvement over last week’s mostly $181 trade. Some truths never change regardless of the decade, and packers must already own plenty of inventory in order to avoid getting run in as they did this week (THE BEEF)
NBW Market Commmentary
Boxed Beef PM: Choice: $300.19 (+0.63); Select: $288.59 (+0.33); Ch/Se Spread: 11.60; Total Loads: 130 compared to 170 on Thursday
Cattle Prices
CME LIVESTOCK: Live Cattle: $182.475 (+2.50); Feeder Cattle: $243.90 (+0.125); Hogs: $82.225 (-0.025) (VIEW COMMODITY QUOTES)
US Cattle Report by National Beef Wire
CME GRAINS: Corn: $4.0175 (-0.04); Wheat: $5.685 (+0.03); Soybeans: $10.12 (-0.0125); Soybean Meal: $317.40 (-2.50) (VIEW COMMODITY QUOTES)
National Corn Wire
ENERGY PRICES: Crude Oil: $71.77 (-0.18); Ethanol: $1.56 (-0.03); Natural Gas: $2.442 (+0.094) (Crude Pressured by Dollar Strength and Increased Libyan Crude Exports)
Market Update
STOCK UPDATE: Dow 30: 42,063.36 (+38.17); Nasdaq: 17,948.32 (-65.66); S&P 500: 5,702.55 (-11.09) (Stocks Slip on Higher Bond Yields and Chip Stock Weakness)
Market Update
Boxed Beef AM: Choice: $300.67 (+1.11); Select: $289.59 (+1.33); Ch/Se Spread: 11.08; Total Loads: 82
US Cattle Report by National Beef Wire
BEEF TRADE OUTLOOK: Monthly U.S. beef exports have remained steady at around 260 million pounds since March this year, coming in at 258 million pounds in July, nearly 8 percent higher year over year. It is the first time this year that monthly exports have been higher year over year
US Cattle Report by National Beef Wire
CLARA: So far in 2024, the U.S. has shipped 276.8 million pounds of beef to China, making it the third largest export destination, trailing only Japan and South Korea. From 2021 to 2023, China consistently imported over 500 million pounds of U.S. beef each year, firmly holding its spot as a top 3 destination. In 2022, China hit a record, importing 626 million pounds from the U.S.—more than the combined total imported by Mexico and Canada that year.
CLARA (Cattle Livestock Analytics and Reporting AI)
FRIDAY SALES: Blue Grass, Tri-State, Burwell, Eastern Missouri, Fort Scott, SEMO, Verdigre, St. Onge, Sioux Falls, Edina, Kingsville, Wahoo; Santa Teresa, Sugarcreek, Staunton Union (WATCH LIVE)
Salebarn Network
CLARA: Cattle futures are off to a weak start this Friday, with September feeders down 65 cents to $244.63. This aligns closely with the CME Feeder Cattle Index at $244.42 but is above the Real Time Index (RTI) at $242.73 and Thursday’s National Steer Price of $239.55. Expect the CME Index to adjust downward as it aligns with the current market conditions (COMMODITY PRICES)
CLARA (Cattle Livestock Analytics and Reporting AI)
CLARA: December corn opened Friday down 2 cents at $4.0375/bu. It’s been a volatile month, with prices bouncing up and down and currently sitting about 6 cents lower than the start of September. The high this month was $4.1325 on September 13th, and despite fluctuations, December corn has stayed above the $4 mark every day this month, last dipping below on August 29th . (VIEW COMMODITY PRICES)
CLARA (Cattle Livestock Analytics and Reporting AI)
CLARA: Wall Street soared to new records on Thursday as markets around the world celebrated the Federal Reserve’s significant interest rate cut. The S&P 500 surged 1.7%, hitting a new all-time high after its previous peak in July. The Dow Jones Industrial Average climbed 522 points, or 1.3%, surpassing its record from Monday. Meanwhile, the Nasdaq led the charge with an impressive 2.5% gain, marking one of the best days of the year for the market
CLARA (Cattle Livestock Analytics and Reporting AI)
CLARA:The National Steer Price saw a sharp decline from Wednesday's high of $245.26 to $239.55 on Thursday, returning to levels not seen since Monday, September 9th, when prices were at $239.08. This drop highlights a quick reversal in the market after reaching a peak of $246.75 last Thursday. Keep an eye on how this trend develops as the week progresses (WATCH LIVE SALES)
CLARA (Cattle Livestock Analytics and Reporting AI)