Producers Livestock Auction Report for Thursday, January 9th

Local News

Lon Felts with Producers Livestock Auction Company has the latest local, regional, and national news on livestock and agriculture sales, trends, and futures.

Today we begin the sale with 1525 head of cattle on the yard. There are several nice sets of calves and yearlings along with some cows to px this morning. I was hoping for a wetter start to the new year but it doesn’t look too promising so far. Maybe we are not to far off from spring rains to get the weeds and wintergrass going. We have several special cows sale this spring and the special calf sale will begin shortly there after. Be sure to pass along any information on your cattle. Vaccinations and weaning dates seem to be most relevant to the buyers. We pass a flier before the sale with your info on it and also try to announce your info as your cattle enter the ring. As always if you have a question, please give us a call.

At the last sale in December we sold 1035 head of cattle. Compared with last week’s sale, calves & yearlings sold near steady. The market continues to be strong & active for better quality calves. Slaughter cows & bulls also sold near steady.

Better Quality Steers: 400-600 lbs, 120.00-175.00, mostly 130.00-155.00, 600-800 lbs, 110.00-145.00, mostly 115.00-135.00 Better Quality Heifers: 400-600 lbs, 110.00-145.00, mostly 120.00-135.00, 600-800 lbs, 95.00-125.00, mostly 110.00-120.00 Slaughter Cows: Average to high yield 43.00-53.00, thinner or lower yielding cows 26.00-42.00 Slaughter Bulls: Average to high yield 62.00-76.00

San Angelo-Producers Livestock Auction sold 6359 head of sheep and goats. Wooled feeder lambs sold 5.00 to 10.00 higher. Slaughter lambs 10.00 to 15.00 higher. Slaughter ewes sold 10.00 to 15.00 higher. Kid goats sold 20.00 to 30.00 higher. Slaughter nannies 1.00 to 1.82 mostly 1.50 to 1.65 Mature billies 1.50 to 2.28 Wooled Feeder lambs: 2.36 to 2.58 Slaughter Lambs: light weight 2.40 to 2.78 heavies 1.50 to 2.50 Slaughter ewes: fleshy 90 to 1.30 thin ewes 70 to 1.10 Kid goats: 2.40-3.70 mostly 2.70 to 3.00

Live cattle futures for February closed at 126.35 down 17 cents and April closed at 127.05 down 32 cents with out months all up 20 to 50 cents. Feeder cattle futures for January closed at 146.82 up 92 cents and March closed at 146.52 up 1.40 with the out months up 40 to 1.40

In the cutout choice was 209.50 down 6 cents and select was 206.53 down 29 cents which is a spread of 2.97 The improvement in grading narrowed the choice/select spread to $3 as grading nationally improved. The first quarter seasonally is the narrowest choice/select spread of the year. Grain Futures. Corn prices were moving sideways to open the week while wheat prices fell. The corn basis is moving higher at 60 over the March board in Guymon, Oklahoma. Corn is now pricing into ration at $8.00 cwt. in the Oklahoma Panhandle.

Cash Cattle

Weekly trade patterns are developing similar to the past few weeks. Early week very few cattle transactions occur with higher asking prices and packers only willing to purchase cattle at steady money. Yesterday a few hundred cattle sold at steady prices of $124-125 live.

Sales volumes last week were larger as packers take on inventory for the stepped up slaughter volumes. Cattle sold last week in the south at $124 — two higher than last week. In the north live sales were at $124-125 with dressed sales from $198-200 — two dollars higher.

The processors want to change the topic to their deteriorating margins and the possibilty of paring back the slaughter schedules to reduced volumes. Seasonally the first quarter of the year is a time of reduced margins with profits increasing into summer months. Increases in carcass weights and quality grade will give them more leverage in this week’s trade. This is some indication some fed cattle have been

The Comprehensive Fed Cattle Weekly Report offers the most current information on the current status of fed cattle being harvested. The report is published each Tuesday and includes the previous week’s change in carcass weights and quality grading. The latest report shows carcass weights shooting up 5# at 884.5# which remains 19# over last year. Quality grade grading increased 1% from prior week to 83%. The improved grading has quickly narrowed the choice/select spread from a high of $26 to the current $3.

The demand for beef in the coming year is expected to be robust domestically and exports are forecast to be strong. Translating those forecast into the reality of higher prices will be the challenge. Pork has been on the threshold of sharply higher prices for much of the past year but large production has delayed the expected rise.

Beef Feature Activity Index. Middle meats are losing ground in pricing as feature cuts are chosen. The lapse in beef imports is expected to shore up 90% lean prices through this coming year.

Replacement markets

Feedyard occupancy has remained high and the new year opened with large volumes of trades for replacement cattle across all areas of the country.

Grow yard cattle will increase in number as a percentage of available cattle on offer. It is always tempting during the height of fall runs to purchase discounted unweaned calves and attempt a short term margin in a grow yard. The venture can be successful providing weather and health issues don’t condemn the operation. It is always easy to underestimate the medicine cost, death loss, and performance.

The large cow slaughter for 2019 will likely signal the end of expansion of the national cattle numbers. Likewise the calf crop and feeder supplies both are likely to have peaked. Numbers of cattle on feed and placements will enter a leveling out period. Year end is always a good time to take a look at changing trends in the industry and we will be offering some views on a changing industry in the next few weeks.

Oklahoma City. Two weeks of no markets opened auction receipts with large volumes of 13,000 head. Prices were mostly higher with full participation in higher prices for light offerings. Some heavy weight classes were lower.

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