National Feeder Cattle Report: Arctic cold snap
Compared to last week, steers and heifers sold uneven; 1.00 lower to 3.00 higher. Demand was good for light weight calves nationwide that were longtime weaned and suited for summer grass with moderate demand for feedlot placements. Early week trading on the CME cattle boards displayed downward pressure Monday through Thursday with the summer live cattle boards hanging around 108.00-110.00.
In Nebraska, sellers of top performing feeders felt the downward pressure as their 8 weight cattle only brought a little over a hundred dollars a head more than the 6 weights in the steer market.
Feedlots sold bulk of their showlist when the CME board was down mid-week; who knew it would trade sharply higher Friday. So far, for the week, live sales sold 119.00 in the North and South Plains and dressed sales in Nebraska at mostly 190.00. The upward movement in early rounds of trading on the CME Friday is giving cattle owners a breath of fresh air hoping they can gain a upward push in the cattle markets next week.
Arctic cold snap blew through the Plains on Wednesday and Thursday with more seasonal temperatures on the weekend. Cow-calf producers are hoping Mother Nature will deal a pleasant hand the rest of the winter as some have started calving and they remember the harshness that occurred during calving season 2019.
light again in Oklahoma as another front moved across the state,
dumping snow in the northwest and heavy rains in Southeast OK.
Conditions are very muddy therefore limiting livestock movement from
Southern Oklahoma through Arkansas, into the East.
The CME Cattle Complex found support on Friday and closed the week on a very strong note. For the week, the Feeder Cattle closed 3.32 to 3.87 higher on the front three months, while front month February Live Cattle was 0.50 lower and April and June LC were 0.52 to 0.73 higher.
Cattle Slaughter under FI estimated at 620K for the week, 11K less than last week and 12K more than a year ago.
On the week, Choice cutout closed 2.03 lower at 208.09, while Select was 1.82 higher at 205.71; narrowing the Choice-Select spread to 2.38.
Auction volume this week included 55 percent weighing over 600 lbs and 48 percent heifers.