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2013 Farm Progress Hay Expo

June 19, 2013 By Leave a Comment

The 2013 Farm Progress Hay Expo, the nation’s largest two-day event of its kind is underway in Northeast Iowa, near Waukon, Iowa. 

With an expanded number of exhibits, a new education feature, and an exceptional host farm, the 2013 Farm Progress Hay Expo is showcasing  the latest technology for hay and forage producers.

Farmers are able to see all the field demonstrations, which include the making of haylage, the cutting of hay, and the tedding of hay at the 27th Annual Hay Expo.  There has been lots of discussion about the quality of this year’s hay crop which is running about three weeks to a month behind. Extension specialists on hand at the Expo were cautioning farmers to pay a lot of attention to the moisture content, because moisture content, if it’s too high, can cause heating, and that can cause quality problems.

The 2013 Farm Progress Hay Expo is being held at Regancrest Farms, near Waukon, Iowa.  The farm has a 675 head cow herd and raises about 600 acres of alfalfa a year.  The Expo runs through Tuesday.

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Cattle bids and asking prices not reported

June 18, 2013 By Leave a Comment

Cattle country remained very quiet on Tuesday afternoon with no bids reported. Although feedlot managers are equally quiet regarding asking prices, DTN says their guess is that steers and heifers are priced around 123.00 in the South and 198.00 in the North. Significant business may once again be delayed until Friday. The kill totaled 125.00 head, the same as last week, but 1,000 less than a year ago.

Boxed beef cutout values were lower on the choice and firm on select on light to moderate demand and moderate offerings. Choice boxed beef was down .95 at 200.24, and select was .36 higher at 184.39.

Chicago Mercantile Exchange cattle contracts settled 7 to 32 points lower on Tuesday. Prices bounced higher and lower during the session. Trade volume was light and the lack of support from boxed beef values along with concerns over this week’s cash trade limited buyer interest. June settled .32 lower at 119.50, and August was down .22 at 119.02

Feeder cattle ended the day 60 to 100 points lower. The support in the corn complex created some concern through the feeder market about longer term production costs. August settled .72 lower at 143.80, and September was down .77 at 146.22.

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Filed Under: Closing Futures & Livestock Briefs, Livestock, Markets Tagged With: , ,

Tuesday midday cash livestock markets

June 18, 2013 By Leave a Comment

Tuesday is normally a very quiet day in the cash cattle markets and it would be shocking to see much action today in the way of bids. Asking prices are around 122.00 to 123.00 in the South and 198.00 plus in the North. Showlists are likely to be priced $3.00 to $4.00 over the board on a live basis. Feedlot managers have gotten to expect selling steers and heifers well over the board. Insisting on such a strong basis could delay significant cash business until the end of the week.

Boxed beef cutout values are mixed with the choice down .53 at 200.66, and the select is up 1.16 at 185.19.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 9,500 head. Compared to last week, feeder steers and heifers sold 1.00 to 3.00 higher. Demand was moderate to good for feeder cattle. Steer and heifer calves were not well tested. The quality was plain to average. 515 feeder steers, medium and large 1 weighing 778 pounds averaged 136.44 per hundredweight.  255 heifers weighing 732 pounds brought 132.97.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade are not reported due to confidentiality. Western hogs are down .75 on a carcass basis at 98.94. Missouri direct base carcass meat price is steady from 92.00 to 93.00. Terminal barrows and gilts on a live basis are steady to 1.00 higher from 65.00 to 70.00. Illinois direct sows are steady from 48.00 to 62.00.

The pork carcass cutout value is up 1.90 at 105.79 FOB plant.

With the cash lean hog index now $4.50-$5.50 over nearby lean hog futures, further board selling seems unlikely until or unless the summer country trade suddenly becomes unglued, according to DTN analysts.

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Cattle showlists appear larger than last week

June 17, 2013 By Leave a Comment

It was a typical Monday in cattle country with buyers and sellers concentration on the distribution of the new showlists. Generally speaking the new fed cattle offering for mid-June is larger than last week, and that is especially true in Kansas. A few of the showlists have been priced around 123.00 to 124.00 in the South and 198.00 plus. It is difficult to predict when significant trade will develop as many packers are thought to be close to the knife and may need cattle earlier in the week. The kill totaled 123,000 head, 1,000 less than last week, down 5,000 head from a year ago.

Boxed beef cutout values are firm to higher on moderate demand and light to moderate offerings. Choice boxed beef is up 1.66 at 201.19 and select is .24 higher at 184.03.

Chicago Mercantile Exchange live cattle contracts settled 20 to 92 points higher. Active buyer support developed through the market on Monday. The focus of traders moved from the lack of beef market support seen last week to strong outside market gains and firming beef prices in the morning report. Futures closed off their highs of the day as trade was sluggish and the inability to draw additional buyer interest into the market. June settled .82 higher at 119.82, and August was up .92 at 119.25.

Feeder cattle ended the session 47 to 112 points higher despite the upward bounce in the corn market, support from the live pit as well as strong outside market support helped to put more focus on potential growth in meat demand. August settled 1.12 higher at 144.52, and September was up .77 at 147.00.

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Filed Under: Closing Futures & Livestock Briefs, Livestock, Markets Tagged With: , ,

Monday midday cash livestock markets

June 17, 2013 By Leave a Comment

Typically of a Monday the cash cattle market is not established with bids and asking prices not well defined. Last week’s trade was a repeat of the previous week with only light to moderate trade reported on Friday afternoon. Live deals in the South were marked at 120.00, $2.00 lower than the previous week. Dressed cattle sales in the North at 195.00 to 197.00, mostly 195.00, were also $2.00 lower.

Boxed beef cutout values were higher in the morning report with the choice beef up 1.81 at 201.33, and select was up .23 at 184.02.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards today totaled 5,000 head. Compared to last week, steer and heifer calves opened steady, yearlings were not well tested early. The demand and supply was called moderate. Feeder steers medium and large 1 weighing 500 to 600 pounds brought 144.00 to 157.00. 5 t0 6 weight heifers traded from 126.00 to 142.00.

Barrows and gilts in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. Nationally the hog market was down .50 at 98.92 on a carcass basis, the East is 1.69 lower at 99.01. Missouri direct base carcass meat price is steady to 2.00 lower from 92.00 to 93.00. Terminal hogs are steady to 2.00 higher from 65.00 to 70.00 live.

The pork carcass cutout value FOB plant is up 1.19 at 103.89 with bellies up over 4.00 and picnics were the only cuts lower.

The strong tumble in cash hog values Friday may be starting to indicate that additional pressure is developing across the entire pork complex. Even with tighter supplies, there is concern of just how much support can be maintained at the end of the month. This could further erode price levels.

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Pork carcass value ends sharply higher on gains in loins and bellies

June 14, 2013 By Leave a Comment

USDA Mandatory reported a light cattle trade developed in the Texas Panhandle and moderate in Kansas on light to moderate demand. Compared to last week, live sales were 2.00 lower at 120.00. Trading was light in Nebraska with a few live sales in the Central part of the state at 121.00, and dressed sales in the East and Iowa at 195.00, 2.00 to 3.00 lower than last week. The weekly cattle slaughter at 644,000 head is the same as the previous week, but 11,000 less than last year.

Boxed beef cutout values were weak to lower on very light demand and light offerings. Choice beef was down 1.10 at 199.93, and select was .58 lower at 183.79.

Chicago Mercantile Exchange cattle settled 65 to 105 points lower. The moderate losses held through the session with the traders focusing on developments in the cash markets as well as the pressure in the boxed beef prices in the morning report. Trade volume was light on Friday. June settled .85 lower at 119.00 and August was down .75 at 118.32.

Feeder cattle ended the session 95 to 207 points lower in a sluggish market. The inability for any direction to be found in the corn market through much of the session seemed to allow feeder cattle to mimic moves seen in the live cattle futures market. August settled 2.07 points lower at 143.40, and September was down 1.52 at 146.22.

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Filed Under: Closing Futures & Livestock Briefs, Livestock, Markets Tagged With: , ,

Friday midday cash livestock market

June 14, 2013 By Leave a Comment

The country is slow to start on Friday with just a few bids on the cattle in Nebraska at 193.00 to 195.00. The expectation is that packer inquiry will start to improve as the day progresses.  Asking prices are around 124.00 in the South, and 200.00 plus in the North.

Boxed beef cutout values are lower in the morning report, with the choice down .48 at 200.15 and the select is .82 lower at 183.55.

Feeder cattle receipts at Missouri auctions last week totaled 26,546 head. Feeder steers and heifers sold steady to 2.00 lower than the previous week. A few exceptions could be found on larger drafts and or load lots which had proper condition, hide color, health records and reputation, but these types were much less plentiful this week.  Feeder steers medium and large 1averaging 625 pounds brought 146.48 per hundredweight on 797 head. 580 heifers weighing 625 pounds traded at an average of 131.94.

Barrows and gilts in the Iowa/Minnesota direct trade opened .28 higher at 102.54 on a carcass basis, the West is up .41 at 102.42, and Eastern markets are .05 higher at 100.42. Missouri direct base carcass meat price is steady from 92.00 to 95.00. Terminal hogs are steady to 1.00 higher 65.00 to 68.00.

The pork carcass cutout value was up 2.01 FOB plant at 102.70 in the morning report on a negotiated basis. Loins and picnics were higher but ribs and bellies were lower.

The storm systems moving through much of the eastern U.S. are likely to create additional concern for meat demand. This spring and summer has been challenging weather wise to encourage strong demand. And there continues to be additional challenges developing which may further weaken consumer summer patterns.

Filed Under: Livestock, Markets Tagged With: ,

Choice boxed beef and pork cutout values close lower

June 13, 2013 By Leave a Comment

The cash cattle market remained at a virtual standstill on Thursday afternoon with just a few token bids reported in Iowa and Nebraska at 193.00. You could drive a truck through the gap between the bids and the asking prices of around 124.00 in the South and 200.00 plus in the North. It looks like it will be another Friday standoff at the feedlot gate. The kill totaled 124,000 head, the same as last week, but 3,000 smaller than last year.

Boxed beef cutout values were lower on choice and steady on select on light demand and offerings. Choice boxed beef was 1.16 lower at 200.63, and select was up .06 at 184.37.

Chicago Mercantile Exchange cattle futures suffered moderate losses on Thursday. The inability for the choice beef cuts to remain stable in the morning boxed beef report added increased uncertainty about future demand, even though select cuts were slightly higher. Traders were focused on the lack of support in the entire complex. June settled .30 lower at 119.85, and August was down .45 at 119.07.

Feeder cattle settled 17 to 87 points lower. Pressure across the rest of the livestock markets allowed traders to cover positions following the triple digit gains yesterday. Trade volume was extremely light and the softness in the corn market offered very little support to livestock markets. August was .45 lower at 145.47, and September was down .17 at 147.75.

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Filed Under: Closing Futures & Livestock Briefs, Crops, Livestock Tagged With: , , ,

Thursday midday cash livestock markets

June 13, 2013 By Leave a Comment

Cattle country remains quiet with just a few bids in Nebraska and Iowa at 193.00 on a dressed basis. Asking prices are around 200.00 plus in the North and 124.00 in the South. Packer interest should start to pick up throughout the day, with additional bids likely. DTN says at this point any bids seen through the market are likely to be well below asking prices and unlikely to get much attention until later into the day or Friday.

Boxed beef cutout values are mixed with the choice down 1.45 at 200.34, and the select up .61 at 184.92.

Feeder cattle receipts at the Hub City Livestock Auction in Nebraska totaled 4367 head on Wednesday. Compared to last week, steers and heifers weighing less than 700 pounds were too lightly tested for comparison. 7 to 1000 weight steers sold steady to 3.00 higher. Heifers weighing 700 to 1,000 pounds were 3.00 to 5.00 higher. It was a good active market with high demand. 748 feeder steers weighing 934 pounds averaged 127.99 per hundredweight. 210 heifers weighing 917 pounds brought 122.45.

Narrows and gilts in the Iowa/Minnesota direct trade opened 1.01 higher at 103.11 on a carcass basis, the West is 1.18 higher at 103.07, and the East was .83 higher at 99.15. Missouri direct base carcass meat price is steady to 4.00 higher from 92.00 to 95.00. Terminal hogs are 1.00 to 2.00 higher from 64.00 to 68.00 live.

The pork carcass cutout value in the morning report was down .64 at 100.69 FOB plant.

Average hog weights fell nearly 1 pound through the last week. This points to the currentness of the market and the need for packers to gain access to additional numbers in order to maintain ready supplies.

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Several dollars separate cattle bids and asking prices

June 12, 2013 By Leave a Comment

Packer inquiry into the cattle remained quiet on Wednesday afternoon with only a few bids noted in Nebraska at 193.00, and Kansas at 120.00.The bids are well below the asking prices of 124.00 in the South, and 200.00 plus in the North. It may be Friday again before packers and feedlot operators can agree on a price. The kill totaled 117,000 head, 7,000 below last week and 10,000 smaller than last year.

Boxed beef cutout values were steady on the select and lower on the choice on moderate demand and moderate offerings. Choice boxed beef was down 1.20 at 201.79, and select was .15 higher at 184.31.

Chicago Mercantile Exchange live cattle contracts settled 50 higher to 17 points lower. Traders’ were focused on the uncertainty of demand support through the next couple of weeks. The pressure in the corn market which developed following the release of the USDA report added to pressure in the nearby contracts. June settled at 120.15, and August at 119.52 with both down .17.

Feeder cattle ended the session 100 to 127 points higher on the pressure in the grain markets. August settled 1.25 higher at 145.92, and September was up 1.12 at 147.92.

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Filed Under: Closing Futures & Livestock Briefs, Livestock, Markets Tagged With: , ,
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