At the Chicago Mercantile Exchange, live cattle futures closed lower on weak wholesale values, the weaker cash trade, less than stellar export numbers, and technical selling. Feeder cattle closed lower on the same factors with expanded limits. June live cattle closed $1.60 lower at $108.47 and August live cattle closed $1.97 lower at $103.07. August feeder cattle closed $5.10 lower at $133.12 and September feeder cattle closed $4.45 lower at $134.07. Direct cash cattle trade wrapped up the week quietly after a moderate trade earlier in the week. Deals in the South were at $115 live, generally steady with last week’s weighted averages. Dressed deals ranged from $186 to $187, roughly $1.50 lower than the previous week’s weighted average basis in Nebraska At the Mitchell Livestock Market in South Dakota, receipts were almost steady on the week and down slightly on the year. Compared to the previous week’s sale, feeder steers and heifers were mostly $3 to $5 lower, with the full decline on cattle over 1000 pounds. The persistent rainfall has led to muddy pen conditions and most feeder steers and heifers were carrying a good amount of mud. But, there were still many attractive load lots on offer that buyers paid attention to. Feeder supply included 48 percent steers and 94 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 839 to 845 pounds brought $124 to $135.60 and feeder steers 945 pounds brought $121.75. Medium and Large 1 feeder heifers 712 to 744 pounds brought $129.75 to $!36.50 and feeder heifers 859 to 897 pounds brought $113.25 to $119.50. At the Nebraska Hay Market, forages sold steady on a light test. The USDA says demand was moderate to good in different areas of the state for small squares and large bales of hay. Most areas of the state are still very wet. Some alfalfa producers are going to clip their alfalfa in hopes of jumpstarting regrowth. The weather has been wet and there has also been talks of putting up haylage. In Eastern/Central Nebraska Alfalfa Good large squares brought $160 to $200. Grass Hay good large rounds brought $95 to $100. Premium small squares brought $160 to $170. Good large rounds brought $90 per bale and good small squares of brome grass brought $6.50 to $7 per bale. In the Platte Valley area of Nebraska, Alfalfa Good large round bales brought $105. The standing hay price is $70 to $75 with instances of $80. Ground and delivered alfalfa brought $140 to $160. Ground and delivered alfalfa-stubble mix brought $130 to $145. Sun-cure alfalfa pellets 15 percent protein brought $220. Dehy alfalfa pellets 17 percent protein brought $240. In Western Nebraska: Alfalfa good large rounds brought $150 to $160 delivered. Ground and delivered alfalfa brought $153 to $158 and sun-cured alfalfa pellets 15 percent protein brought $155. Boxed beef closed weak to lower on light to moderate demand and moderate to heavy offerings. Choice closed $.37 lower at $223.21 and Select closed $1.18 lower at $207.69. The Choice/Select spread closed at $15.52. Estimated cattle slaughter is 121,000 head – up 2,000 on the week and 1,000 on the year. Saturday’s estimated kill is 93,000 head – up 48,000 on the week and down 12,000 on the year. Lean hog futures closed lower; the market is worried about demand uncertainties as the Trump administration has issued a tariff threat on imported goods from Mexico. The weak cash trade during the session and the sharply lower cattle futures also pressured prices. June lean hogs closed $1.85 lower at $81.72 and July lean hogs closed $1.95 lower at $85.92. Cash hogs closed lower with moderate to ample negotiated purchase totals.
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