![]() during the first half of May, then by adding the local Nebraska basis for 500-600 pound steers in October ($15 to $36 above the CME contract settlement index, the projected price for 500+ lb. “One indicator of what prices might be like this fall is to use the October CME Feeder Cattle Futures price and add the expected local basis to it,” the article explains.įor example, with the October futures contract price for feeder cattle trading around $230 per cwt. However, in volatile markets, should cow-calf producers be optimistic about profits in 2023, despite challenges with forage availability and input costs?Ī recent article written by Jay Parsons, University of Nebraska-Lincoln farm and ranch specialist at the Center for Agricultural Profitability, as well as John Hewlett, risk management specialist with the University of Wyoming, and Jeff Tranel, ag and business management specialist at Colorado State University, breaks down the cattle market and price expectations for the remainder of the year.įor many producers, the price of a weaned calf in October and November is their primary concern. were steady.As severe drought caused high cow liquidation rates over the last 18 to 24 months, the high cattle prices were not a matter of “if” but “when.” sold for $2-$5 per hundred more, while those weighing more than 70 lbs. Slaughter lambs were $1-$2 higher at Oklahoma City. The February contract was 44.35 cents and March settled at 44.87. Pork bellies settled up on the Chicago exchange at week's end. The top price for the week was $37.90 a hundred paid on Monday for barrows and gilts weighing 250 lbs. Slaughter hog prices were $1 lower at Oklahoma City and sow prices were mixed for the week, the USDA said. The USDA's estimated gross boxed beef cutout value of a choice 1-3 grade carcass weighing 550-700 pounds improved 45 cents per hundredweight to $112.05. Some cutback in slaughter rates helped improve the supply balance, the agency said. The December contract settled at 72.27 cents per pound, the February at 72.72 and the April 74.37.īoxed beef continued to move slowly this past week and carcass prices were unclear, the USDA said. Live cattle contracts in Chicago brought from 1.48 cents to 10 cents per pound less on Friday than a week ago. ![]() range attracted $73 a hundred at midweek, while heifers weighing 1,040-1,050 lbs. In Kansas, mostly choice steers in the 1,150-1,200 lbs. Select and mostly choice yield grade 2-3 steers weighing 1,050-1,200 lbs. The November contract was 81.35 cents per pound, the January 82.52 and the April 81.05.īuyers lost interest Wednesday and Thursday at feedlots in western Oklahoma and the Texas Panhandle in anticipation of the Veterans Day closing of several packing houses, the USDA said. On the Chicago Mercantile Exchange, feeder cattle prices settled uniformly down on Friday and ended off by. Contracts for March through April delivery of 650-700 pound heifers brought $76-$77.50, the USDA said. Stocker calves attracted the most attention from buyers wanting immediate delivery, while future-delivery buyers showed the most interest in yearlings.Ĭontracts for January through March delivery of 725-800 lbs. ![]() The USDA confirmed range sales of 17,100 head of cattle this past week, more than double last week's activity. Cow prices were steady and bulls were up $1 a hundredweight.Įstimated receipts were 12,700 for the week, an improvement from last week's 10,915 and better than the 11,186 a year ago. ![]() Slaughter cows attracted interest from both packing-house buyers and those planning to take the animals back to pasture. Heifer calves stood out, selling $1-$2 higher for the week. Live cattle futures were mixed in Chicago, with nearer-term contracts suffering more than those expiring further into the future.ĭemand was good and trading active at the Oklahoma National Stockyards in Oklahoma City this past week, the U.S. Feeder cattle prices generally gained this past week, but the Veterans Day holiday put a damper on interest in slaughter animals at western Oklahoma and Texas Panhandle feedlots.įeeder steers and heifers were steady to $1 higher in Oklahoma City, and feeder cattle futures were mixed.įat cattle prices fell $.50 at western Oklahoma and Texas Panhandle feedyards. ![]()
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