In this file:

 

·         Cash Fed Cattle Sharply Lower, Feeders Steady to Lower

Market volatility was prevalent this week

 

·         Fed Cattle Prices Tumble

Calf and feeder cattle prices continue to be pressured by fed cattle bearishness.

 

 

Cash Fed Cattle Sharply Lower, Feeders Steady to Lower

Market volatility was prevalent this week

 

Greg Henderson, Drovers 

September 6, 2019

 

Cash fed cattle continued a downward spiral driven by losses in CME Live cattle futures. Cash cattle in the South traded at $100 per cwt., $2 to $3 lower than last week. Northern cattle traded at $102 to $103 live, and $165 to $168 dressed, $3 to $8 lower. Early in the week northern cattle traded at $105 live and $170 dressed.

 

Softer cash prices were the result of sharply lower futures prices. CME Oct Live cattle closed down the $3 daily limit to close below $95. As a result, trading limits expand to $4.50 for next Monday’s session. Feeder cattle finished $1.025 to $1.425 lower through the January contract. For the week, October live cattle futures plunged $4.05 and posted a new contract low. Bears carry strong momentum into next week’s trade.

 

On Wednesday, Tyson Fresh Meats reported its Finney County beef plant will not be fully operational until January, but some processing is occurring in undamaged areas of the plant. That will leave the industry coping with a 5% slaughter capacity loss over the next four months with heavy supplies of ready cattle.

 

At auctions, Agricultural Marketing Service reporters called the trend for steers and heifers $3 lower to $2 higher, “with the North Central region being on the positive side of neutral.  Weakness in the Southern Plains and the Southeast regions this week were widespread at auctions as demand is waning ahead of the fall calf runs.”

 

Still, AMS reporters said...

 

more

https://www.drovers.com/article/cash-fed-cattle-sharply-lower-feeders-steady-lower

 

 

Fed Cattle Prices Tumble

Calf and feeder cattle prices continue to be pressured by fed cattle bearishness.

 

Wes Ishmael, BEEF Magazine 

Sep 07, 2019

 

Cash fed cattle prices took it on the chin this week, starting out lower and then growing softer as the week progressed.

 

Live sales were $3 lower in the Southern Plains at $100 per cwt, $4-$6 lower in Nebraska at mostly $100 and $2-$5 lower in the western Corn Belt at $102-$107. Dressed sales were $9-$10 lower in Nebraska at $160-$166; $7-$9 lower in the western Corn Belt at $163-$166.

 

Through Thursday, the average Five Area direct price for steers was $4.31 less at $102.31 on a live basis; $5.43 less in the beef at $166.19.

 

Week to week on Friday, Live Cattle futures closed an average of $3.53 lower through the front three contracts and then an average of 46 cents lower.

 

There were plenty of potential contributors to the free-fall, from increasing supply and continued logistic challenges left by the Tyson fire (see “Tyson Fire Update” below) to the potential demand impact from Hurricane Dorian to piling on by electronic traders, as well as lower wholesale beef values.

 

Choice boxed beef cutout value was $4.46 lower week to week on Friday at $227.31 per cwt. Select was $10.33 lower at $201.94. Compared to the Friday of the Tyson fire, that’s still $10.94 higher for Choice and $8.13 higher for Select.

 

“Unfortunately, there is likely more downside in the finished cattle market as late September and October are always tough months for cattle feeders,” says Andrew P. Griffith, agricultural economist at the University of Tennessee, in his weekly market comments. “The only thing a cattle feeder can do at this point is ride the tough times out. Any other plans will likely lead to even greater losses. The market will improve over the next four to six months and profits should be favorable.”

 

Calf and feeder prices tread water ...

 

more

https://www.beefmagazine.com/market-reports/fed-cattle-prices-tumble