Cattle Today

06.08 Markets

Cattle

August LC day 2 of a buy signal. October LC day 2 of a buy signal. August FC: day 1 of a buy signal.
Trends are positive in live cattle and negative feeder cattle.
The new case in Zavala County was detected on a ranch 5.6 miles (9 km) from the first positive case of screwworm in Texas.
A widespread resurgence now could pose a significant economic threat in Texas, the country’s largest cattle-producing state, through animal deaths as well as higher labor and treatment costs.
The Canadian Food Inspection Agency said on Friday that it would implement temporary import restrictions on livestock from entering Canada from affected areas in the United States after the first confirmation of screwworm, a flesh-eating parasite, on a farm in Texas.
Beef demand has remained resilient despite historically high prices, but it remains unclear if consumer behavior would change if cases of screwworm within US borders increase.
USDA Secretary Brooke Rollins will attend off-the record briefings at the new Knipling-Bushland U.S. Livestock Insects Research Laboratory in Kerville, Texas, and then hold a press conference this afternoon.
Will demand remain strong as more intensive procedures be required of cattlemen vs the movement restrictions of cattle? Less market access to Canada and for TX or other infected states? Will it have an effect on consumer perception?
The Commitment of Traders report showed the funds selling 4,435 live cattle futures contracts, reducing their net-long position to 116,107 contracts. They added 336 long futures positions to feeder cattle, increasing their net-long position to 11,299 contracts.
Boxed beef mixed. Feeder index higher.
Markets narrowed the big discounts to cash quickly.
Cash cattle traded steady last week, likely trimming the early strength of the market on Friday. Cash called steady for this week too.
Live deals in the South ranged from $255 to $258, $1 lower to $3 higher and dressed deals for the week were at mostly $405.
In SD, the offering was mostly yearlings. Steers weighing more than 700 pounds were $7 to $9 higher. Heifers sold with a higher undertone. Medium and Large 1 feeder steers 934 to 939 pounds brought $342 to $349.50 and feeder steers 908 to 947 pounds brought $330 to $335. Medium and Large 1 feeder heifers 907 pounds brought $312.
Live Weights: 1,470 lbs, 1,469 wk ago, 1,411 yr ago.
Dressed Weights: 901 lbs, 900 wk ago, 863 yr ago.
Beef Production: 479 mln lbs, 403 wk ago, 501 yr ago.
Feeder Cattle Index: $361.38 vs $359.21 prior.
Slaughter: 100,000, 105,000 wk ago, 102,000 yr ago.
Boxed Beef: Choice $392.70, 0.04, Select $382.69, -0.35, Ch/Se spread 10.01, Loads 91.

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