Learn @ Lunch Webinars


Mississippi and Louisiana State Universities will be hosting a series of educational seminars during the lunch hour on Tuesdays and Thursdays in September. The series will be broadcast via Adobe Connect. There is no need to download anything to view the seminars and all internet connection speeds will work. Speakers will be necessary to hear the audio. Links to view the webinars will be listed here and at MSUCares.com/livestock/beef. If you have any questions or need further details do not heistate to contact me at (662) 325-7986 or jmr26@msstate.edu.

Continue reading “Learn @ Lunch Webinars”

Cattle Market Notes – Week of Jul 27, 2012


Cash Cattle:

Cash fed cattle moved higher by about $1/cwt this week, though volume through the end of the week remained light. Live cattle in the Southern Plains traded at $114/cwt. Live trade in Nebraska was too light to call a trend, while dressed prices were $180-$181/cwt. In Oklahoma City, feeder steers were steady to $3/cwt lower and feeder heifers were steady. Un-weaned steer and heifer calves were $2-$3/cwt lower, while weaned calves were steady. Mississippi feeders were steady, slaughter cows and bulls were $2-$5/cwt lower.

Continue reading “Cattle Market Notes – Week of Jul 27, 2012”

Livestock Price and Production Tables – Week of Jul 27, 2012


 

Mississippi Auction Markets
Weight Steers Heifers Slaughter Cows, Bulls, and Replacements
300-350 $170 $180 $160 $175 Boning (80-85% lean) $65 $75
350-400 $150 $170 $130 $160 Boning (high-yielding) $75 $83
400-450 $135 $150 $120 $135 Lean $65 $73
450-500 $130 $135 $120 $135 Bulls, YG 1-2, <1,500 lbs $75 $90
500-550 $118 $135 $115 $126 Bulls, YG 1-2, >1,500 lbs $85 $95
550-600 $118 $135 $115 $126  
600-650 $120 $129 $110 $120 Sm/Mdm Cow-Calf Pairs $900 $1,300
650-700 $110 $120 $100 $110 Mdm/Lg Cow-Calf Pairs $1,000 $1,400
700-750 $105 $115 $86 $100 Sm/Mdm Replacements $700 $1,000
750-800 $105 $115 $86 $100 Mdm/Lg Replacements $1,000 $1,500
Volume1 (head): vs Last Week vs Last Year  
under 600 lbs -8.7% -23.0%
over 600 lbs -8.0% -28.1%
Slaughter Cows -18.1% -19.2%
Rep. Females 3.8% -6.4%
Note: Steer and heifer prices are for medium and large frame, numbers 1-2.
1- Four Week Rolling Average
Source: USDA Agricultural Marketing Service

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Futures Prices
Month Live Cattle Change* Feeder Cattle Change* Corn Change* Soybeans Change*
Aug $119.68 +1.58 $137.75 +1.65     $16.84 -0.72
Sep     $140.25 +1.72 $7.99 -0.19 $16.28 -0.85
Oct $125.28 +2.18 $142.45 +1.95        
Nov     $144.90 +2.63     $16.02 -0.83
Dec $128.43 +2.18     $7.92 -0.03    
Jan     $147.80 +2.63     $15.91 +0.42
Feb $131.85 +3.35            
Mar     $150.00 +2.05 $7.82 +0.00 $14.79 -0.19
Apr $134.75 +2.75 $151.50 +2.40        
May     $152.50 +2.20 $7.79 +0.00 $14.13 -0.37
Jun $131.80 +2.20            
Jul         $7.61 -0.14 $13.99 -0.44
Source: Chicago Mercantile Exchange and Chicago Board of Trade.
*Change from last Friday’s close.

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Feeder Calf Markets (price for M&L #1-2 steers)
  750-800 lbs 500-550 lbs
Mississippi $110.00 $126.50
OKC $129.51 NQ
Kentucky $126.90 $135.86
Joplin, MO $124.50 $133.59
Tulia, TX NQ $147.50

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Price and Production Summary
  This Week Last Week Last Year
5-Area Fed Steer Price      
   Live $ 113.93 $ 112.90 $ 107.55
   Dressed $ 180.13 $ 178.89 $ 174.35
OKC Feeder Cattle Prices      
   7.5-8 wt M&L #1 steer $ 133.00 $ 135.13 $ 134.05
   5-5.5 wt M&L #1 steer $ 136.00 $ 145.62 $ 146.34
BBCV (weekly avg.)      
   600-900 lb Choice cutout $ 178.06 $ 182.07 $ 175.04
   600-900 lb Select cutout $ 170.97 $ 172.05 $ 170.40
   Choice Rib Value $ 263.64 $ 270.42 $ 244.93
   Choice Chuck Value $ 139.94 $ 141.72 $ 140.38
Other Livestock Prices      
   Barrows and Gilts (base price) $ 90.53 $ 91.78 $ 100.37
   Pork Carcass Cutout $ 92.27 $ 90.33 $ 102.55
   Georgia Dock Broilers $ 94.27 $ 94.45 $ 87.22
   Georgia Dock B/S Breasts $ 158.50 $ 158.50 $ 147.00
   Georgia Dock Leg Quarters $ 51.00 $ 51.00 $ 45.50
Feed Prices ($/ton)      
   Whole Cottonseed1 $ 295.00 $ 287.00 $ 360.00
   Cottonseed Meal1 $ 365.00 $ 335.00 $ 322.50
   Corn Gluten Meal (60%)1 $ 730.00 $ 640.00 $ 560.00
   Soybean Hulls1 $ 280.00 $ 230.00 $ 182.00
   Soybean Meal (48%)1 $ 547.00 $ 514.30 $ 378.30
   Wheat Midds1 NQ $ 235.00 $ 225.00
   Corn Gluten Feed2 $ 239.50 $ 224.50 $ 175.00
   Corn Gluten Pellets (21%)3 $ 270.00 $ 237.50 $ 210.00
   Soybean Hull Pellets3 $ 280.00 $ 220.00 $ 215.00
   Distillers’ Dried Grains4 $ 292.50 $ 275.00 $ 214.00
   Rice Bran5 $ 165.00 $ 152.50 $ 147.50
Meat Production (million lbs)  
   Beef 504.4 518.0 514.8
   Pork 405.3 398.5 403.2
Slaughter (1,000 head)  
   Cattle 637 654 665
   Hogs 2,003 1,961 1,992
   Broilers/Fryers 159,140 164,620 163,521
Avg. Dressed Weight  
   Cattle 793 793 777
   Hogs 202 203 202
Source: USDA Agricultural Marketing Service
1-Memphis; 2-St. Louis; 3-Alabama; 4-E. Corn Belt; 5-Arkansas

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Southeastern Fertilizer and Farm Diesel Prices
  This Week Last Week Last Year Y-o-Y

% Change

Liquid N (28% spread) $ 460.00 $ 460.00 $ 425.00 8.2%
Ammonium Nitrate $ 539.50 $ 539.50 $ 470.00 14.8%
13-13-13 $ 512.00 $ 512.00 $ 485.00 5.6%
17-17-17 $ 596.50 $ 596.50 $ 612.50 -2.6%
DAP (18%N, 46%P) $ 624.00 $ 624.00 $ 722.50 -13.6%
Potash $ 647.00 $ 647.00 $ 640.00 1.1%
Lime $ 37.50 $ 37.50 $ 37.50 0.0%
Farm Diesel $ 3.36 $ 3.32 $ 3.48 -3.5%
Source:  USDA- AL Dept of Ag, Market News, Montgomery, AL
Fertilizer prices are $/ton, Diesel prices are $/gal for <1,000 gallons

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Southeastern Hay Market Report
  This Week Last Week
  Good Premium Good Premium
Bermuda        
4×5 Roll $70.00 $114.41 $84.15 $100.00
5×5 or 5×6 Roll NQ $100.00 $60.00 $100.00
Bahia        
4×5 Roll NQ $100.00 NQ $100.00
5×5 or 5×6 Roll NQ NQ NQ NQ
Prices are $/ton
Source:  USDA-AL Dept of Ag, Market News, Montgomery, AL

 

Cattle Market Notes – Week of Jul 20, 2012


Cash Cattle:

Trade took place early this week and then slowed. Prices once again moved lower. Live cattle in the Southern Plains traded at $113/cwt on Tuesday. In Nebraska, live and dressed trade was called at $112-$113/cwt and $178-$180/cwt, respectively. In Oklahoma City, feeder steers and steer calves were $6-$8/cwt lower and all heifers were $6-$10/cwt lower. Mississippi feeders were mixed, slaughter cows were $1-$3/cwt lower, and bulls were $3-$8/cwt lower. Continue reading “Cattle Market Notes – Week of Jul 20, 2012”

Livestock Price and Production Tables – Week of Jul 20, 2012


Mississippi Auction Markets
Weight Steers Heifers Slaughter Cows, Bulls, and Replacements
300-350 $170 $185 $160 $175 Boning (80-85% lean) $70 $80
350-400 $155 $170 $140 $160 Boning (high-yielding) $80 $86
400-450 $145 $155 $118 $138 Lean $67 $75
450-500 $130 $145 $118 $138 Bulls, YG 1-2, <1,500 lbs $80 $90
500-550 $120 $135 $120 $137 Bulls, YG 1-2, >1,500 lbs $90 $100
550-600 $120 $135 $120 $137  
600-650 $125 $137 $108 $124 Sm/Mdm Cow-Calf Pairs $900 $1,300
650-700 $110 $125 $108 $124 Mdm/Lg Cow-Calf Pairs $1,100 $1,600
700-750 NQ NQ $98 $110 Sm/Mdm Replacements $750 $1,000
750-800 NQ NQ $98 $110 Mdm/Lg Replacements $1,000 $1,500
Volume1 (head): vs Last Week vs Last Year  
under 600 lbs -4.1% -13.7%
over 600 lbs -11.6% -17.0%
Slaughter Cows -11.5% -13.3%
Rep. Females 2.5% -1.8%
Note: Steer and heifer prices are for medium and large frame, numbers 1-2.
1- Four Week Rolling Average
Source: USDA Agricultural Marketing Service

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Futures Prices
Month Live Cattle Change* Feeder Cattle Change* Corn Change* Soybeans Change*
Jul         $7.75 -0.09 $14.43 -1.80
Aug $118.10 +0.85 $136.10 -2.88     $17.56 +1.84
Sep     $138.53 -3.60 $8.18 +0.79 $17.13 +1.65
Oct $123.10 +1.70 $140.50 -3.78        
Nov     $142.28 -3.25     $16.85 +1.35
Dec $126.25 +1.30     $7.94 +0.59    
Jan     $145.18 -3.17     $15.50 +0.00
Feb $128.50 +0.05            
Mar     $147.95 -3.15 $7.82 +0.53 $14.98 +0.21
Apr $132.00 +0.75 $149.10 -3.25        
May     $150.30 -2.80 $7.79 +0.56 $14.51 +0.18
Jun $129.60 +0.50            
Source: Chicago Mercantile Exchange and Chicago Board of Trade.
*Change from last Friday’s close.

Continue reading “Livestock Price and Production Tables – Week of Jul 20, 2012”

Mid Year Cattle Inventory


USDA released their mid-year (July) inventory report for cattle. The report does not provide data on individual states. Compared to July 2011 inventories, all cattle and calves in the U.S. were lower by 2.2% at 97.8 million head. In the more comprehensive January 1 inventory report, the total number of all cattle and calves was down 2.1% so very similar to the current value. The January report also pointed to a potential beef herd expansion as beef heifers held for replacement were up 1.4%. As a result, much anticipation surrounded the current report for further signs of this trend. Heifers held for replacement were even with July 2011, so it is tough to know if an expansion is on the horizon. The current drought conditions across roughly 80% of the U.S. will most likely keep expansion in check for the remainder of 2012. The number of calves and feeders are down in this July report, similar to January, which are largely a result of last year’s liquidations and culling in the southwestern U.S. since this survey was conducted prior to the explosion of this year’s dry conditions. The rest of the inventory is summarized below.

 

  No. of Head (1,000) % change from 2011 Pre-Report –
Inventory on Jul. 1, 2012 for: Average Range
  All cattle & calves 97,800.0 97.8% 98.6% 97.9% 99.5%
  Annual calf crop 34,500.0 97.7% 98.4% 98.0% 99.2%
             
 Total cows/heifers that have calved 39,700.0 97.8% 98.4% 97.8% 99.5%
  beef cows/heifers that have calved 30,500.0 97.1% 97.9% 97.1% 99.0%
  milk cows/heifers that have calved 9,200.0 100.0% 100.3% 99.7% 101.0%
 Heifers 500 pounds and over 15,700.0 98.1% 99.3% 98.7% 100.0%
  beef replacement heifers 4,200.0 100.0% 101.3% 100.6% 102.4%
  milk replacement heifers 4,100.0 97.6% 99.5% 98.8% 100.0%
  other heifers 7,400.0 97.4% 98.3% 96.7% 101.0%
 Steers 500 pounds and over 14,000.0 98.6% 99.2% 98.2% 100.0%
 Bulls 500 pounds and over 1,900.0 95.0% 97.1% 95.0% 99.0%
 Calves under 500 pounds 26,500.0 97.4% 97.9% 97.3% 98.5%
Cattle on Feed 12,300.0 100.8%        
Source: USDA, NASS            

 

July Cattle On Feed Recap


USDA released their monthly Cattle on Feed report this afternoon (July 20). The report shows 10.710 million head of cattle in feedlots with 1,000 head or larger capacity, an increase of 2.7% from the July 2011 number. This is largely in-line with pre-report expectations, which were looking for an increase of 2.5%. [A separate report revealed that cattle in feedlots of all sizes on July 1 was 12.3 million head. More on the mid-year cattle inventory report here.] Placements into feedlots during the month of June totaled 1.664 million head, down 1.8% from year ago levels. Analysts expected placements to drop 1.3% versus last year, so the report shows a less cattle were placed than expected. This could be viewed as mildly bullish, but with the drought conditions worsening across 80+% of the U.S. most expect the number of cattle in feedlots to grow as the year progresses which will dampen any positives this report highlights. Marketings were down 6.1% from a year ago at 1.965 million head. Pre-report expectations were looking for this number to be 6.0% lower.

Delving into the placements by weight and by state is quite a revealing. Nationally, placements of cattle under 600 pounds were even with one year ago, placements over 800 pounds were 13.6% higher than last year, and cattle placed between 600 and 800 pounds were were lower by 11.3%. Given the rise in corn prices that started in mid-June the increased placement of heavy cattle is not surprising. This national trend was similar in both Kansas and Texas, but in Nebraska all weight categories saw a jump in placements. Two things to keep in mind. First, the drought of 2011, to which this month’s report is being compared to, was dire in Texas and the southern portions of Kansas. Second, the dry conditions in the western Corn Belt are serious and appear to be forcing producers hand. It should be expected that this trend has continued and will likely show up again in next month’s report.

Summary of the report:

Pre-report Estimates:
(1,000 head) % of 2011 Average Range
Placed during Jun 1,664 98.2% 98.7% 92.6% 104.1%
Marketed during Jun 1,965 93.9% 94.0% 92.0% 101.0%
On Feed, Jul 1 10,710 102.7% 102.5% 100.0% 103.8%

Placements by weight group and state:

Weight Group Kansas Nebraska Texas US Total
<600 26.7% 40.0% -14.3% 0.0%
600-699 -15.8% 16.7% -23.1% -15.8%
700-799 -8.3% 28.6% -37.5% -7.1%
800+ 5.0% 19.2% 62.5% 13.6%