At the Chicago
Mercantile Exchange, cattle futures ended the day mixed. Contracts were overbought and needed a
correction. The Cattle on Feed report
was neutral to bearish. April live
cattle closed $.17 lower at $129.72 and June live cattle closed $.40 lower at
$123.50. April feeder cattle closed $.12
lower at $148.80 and May feeder cattle closed $.05 lower at $154.05.
A light to moderate
trade developed across most areas of cattle country. Live deals were at $128, about $1 higher than
the previous week’s weighted averages.
Dressed deals were marked at $208, $4 higher than the previous week’s
weighted average basis in Nebraska.
The Missouri weekly
weighted average feeder cattle report has receipts up slightly on the week and
up on the year. Compared to the
previous week, steers and heifers traded steady to $3 higher with spots of $5
higher. The USDA says demand was good
with a moderate supply. Sunshine and
warmer weather moved into Missouri, and pastures are trying to green up. But, there is still some concern about
pasture health after the muddy conditions the past few months. Medium and Large 1 feeder steers 550 to 599
pounds brought $144 to $183.50 and feeder steers 700 to 748 brought $126 to
$163. Medium and Large 1 feeder heifers
500 to 548 pounds brought $130 to $164 and feeder heifers 600 to 649 pounds
brought $122 to $154.50.
At the Nebraska Hay Market, compared to last week hay prices
are fully steady. Demand was good but
there are concerns about how hay can be loaded and moved with the excessive
moisture across much of the state. There
have been some efforts to procure and donate loads of hay to those in need after
the massive flooding. In Eastern/Central
Nebraska Alfalfa: Good large squares brought $150; Premium large rounds $130;
Good large rounds $110 to $115. Grass
Hay: Premium large rounds $100 to $105; Good large rounds $90 to $95; Fair
large rounds $75.
Continue reading Hog futures take a breather heading into the weekend at Brownfield Ag News.
