Cattle Today

03.20 Markets

Cattle

April LC day 11 of a buy signal. June LC day 11 of a buy signal. April FC: day 11 of a buy signal.
Cattle trends positive live cattle, positive feeder cattle.
Cattle futures rallied Wednesday as harsh weather conditions in Nebraska and Kansas limited slaughter operations
Slaughter yesterday down significantly vs Tuesday.
Feeder cattle saw its fourth day of gains, having risen Tuesday on expectations that the US Department of Agriculture's upcoming monthly cattle on feed report would show decreased placements compared to this time last year
Boxed beef in the choice jumped $6, nearing $330.
Cash trade remains quiet. Asking prices $207 live in the south.
In MO, feeder steers and heifers were $2 to $4 higher. Steer calves were $4 to $8 higher and heifer calves were $6 to $12 higher with spots of $20 higher. Medium and Large 1 feeder steers 600 to 646 pounds brought $323 to $335 and feeder steers 760 to 797 pounds brought $276 to $290. Medium and Large 1 feeder heifers 664 to 698 pounds brought $275 to $285 and feeder heifers 700 to 736 pounds brought $264 to $276.
Negotiated cash fed steer prices were up sharply last week and to the surprise of many to an average $205.70/cwt and $6.50 higher than the previous week, leaving feedlot margins at an estimated $420 per head compared to $29 for the same week a year ago. Prices for feeder cattle weighing 750 – 800 lbs. were pushed $12/cwt. higher to average $286/cwt and pushing the breakeven for those cattle to $199/cwt.
Packer margins remain well into the red (- $138) with cattle purchased during the week ending March 8 for $201/cwt. slaughtered and processed last week
Net sales of 10,200 MT for 2025 were down 29 percent from the previous week and 40 percent from the prior 4-week average.
The USDA’s National Ag Statistics Service has announced it will reinstate several previously suspended reports and programs, including the July Cattle Inventory report.
COF report tomorrow afternoon. Friendly report expected. How much is dialed in?
Placement rand would be the lowest since 2015 and smallest March 1st inventory since 2017.
Feeder Cattle Index: $284.65 vs $284.11 prior.
Slaughter 96,000, 123,000 wk ago, 115,000 prior.
Boxed Beef: Choice 329.61, 6.29, Select 308.68, -0.55, Ch/Se spread 20.93 Loads 110.

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