Cattle
- August LC: day 18 of a buy signal. October LC day 18 of a buy signal. August FC: day 18 of a buy signal.
- Cattle trends positive live cattle, positive feeders.
- Cattle made new all-time highs last week.
- Cash trade mostly $292 dressed in the north, up $8, $285-292 in IA/MN.
- Live trade in the south $175-180, up $7-8. $183-188 in NE.
- Beef prices have been picking up, Choice nearing $310.
- Pasture conditions have been improving.
- Grain markets turning positive increasing feed costs.
- Cattle markets picking up momentum in a run phase.
- Funds increased the net long position in live cattle 5,845 contracts, net long 107,835.
- Feeder cattle net long 17,432 contracts, up 661 contracts last week.
- Second quarter beef production expected to be down 6% vs last year, 3rd quarter expected to be down 5%.
- Cyclical bull market remains.
- Slaughter margins $143/head in the black.
- Dressed cattle weights 817 lbs, unchanged from wk prior, 813 yr ago, ave 808 lbs.
- Beef production last week 467.1 mln lbs, down from 493 mln yr ago.
- Cumulative export sales in beef for 2023 487,300 mts, 631,700 mts yr ago, ave is 532,300 mts.
- Feeder Cattle Index: 208.04 vs 208.07 prior.
- Slaughter 124,000, 118,000 wk ago, 125,000 prior.
- Boxed Beef: Choice 309.93, 3.49, Select 290.93 4.61, Ch/Se spread 19.00 Loads 120.
Wildfire Risk Increases in Parts of West
Cattle Markets Spike Higher Post-Holiday
Visit with your cattle rep for the latest on how to sell now.
Stoneberg: New Assault on Federal Grazing
Drought Causes Tight Hay Supply in NE
The Newly Updated Nexus Cattle Calculator is Live In the Apple App Store and Google Play!
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