Livestock Price and Production Tables: Week Ending May 31, 2013


 

Mississippi Auction Markets
Weight Steers Heifers Slaughter Cows, Bulls, and Replacements
300-350 $165 $180 $150 $165 Boning (80-85% lean) $75 $82
350-400 $155 $165 $145 $150 Boning (high-yielding) $82 $85
400-450 $150 $165 $130 $148 Lean $65 $75
450-500 $140 $150 $130 $148 Bulls, YG 1-2, <1,500 lbs $79 $99
500-550 $135 $145 $122 $132 Bulls, YG 1-2, >1,500 lbs $90 $104
550-600 $135 $145 $122 $132  
600-650 $125 $137 $115 $125 Sm/Mdm Cow-Calf Pairs $1,000 $1,400
650-700 $125 $137 $115 $125 Mdm/Lg Cow-Calf Pairs $1,000 $1,300
700-750 $117 $130 $110 $120 Sm/Mdm Replacements $850 $1,350
750-800 $117 $130 $110 $120 Mdm/Lg Replacements $700 $1,000
Volume1 (head): vs Last Week vs Last Year  
under 600 lbs 2.3% -12.9%
over 600 lbs -0.5% -2.3%
Slaughter Cows 5.5% -31.7%
Rep. Females -0.2% 4.4%
Note: Steer and heifer prices are for medium and large frame, numbers 1-2.
1- Four Week Rolling Average
Source: USDA Agricultural Marketing Service

Futures Prices
Month Live Cattle Change* Feeder Cattle Change* Corn Change* Soybeans Change*
Jun $121.38 +0.80            
Jul         $6.62 +0.05 $15.10 +0.34
Aug $120.40 +1.18 $144.53 -0.03     $14.38 +0.35
Sep     $146.58 -0.10 $5.97 +0.31 $13.47 +0.47
Oct $123.48 +0.67 $148.38 -0.15     $13.04 +0.57
Nov     $149.55 -0.40     $13.04 +0.57
Dec $125.70 +0.88     $5.67 +0.31    
Jan     $149.73 -0.18     $13.10 +0.56
Feb $126.68 +0.60            
Mar     $149.93 -0.57 $5.77 +0.30 $13.07 +0.49
Apr $128.48 +1.15 $151.50 +0.00        
May     $153.25 -0.25 $5.83 +0.27 $13.14 +0.56
Source: CME Group
Note: Cattle prices in $/cwt; Corn & Soybean prices in $/bu
*Change from last Friday’s close.

Feeder Calf Markets (price for M&L #1-2 steers)
  750-800 lbs 500-550 lbs
Mississippi $123.50 $140.00
OKC Holiday Holiday
Kentucky $130.19 $142.92
Joplin, MO $126.87 $143.81
Tulia, TX $127.00 NQ

Price and Production Summary
  This Week Last Week Last Year
5-Area Fed Steer Price      
   Live $124.81 $124.45 $121.90
   Dressed $199.06 $199.85 $194.78
OKC Feeder Cattle Prices      
   7.5-8 wt M&L #1 steer Holiday $131.17 No Sale
   5-5.5 wt M&L #1 steer Holiday $151.07 No Sale
BBCV (weekly avg.)      
   600-900 lb Choice cutout $208.32 $210.47 $196.83
   600-900 lb Select cutout $189.14 $192.11 $186.93
   Choice Rib Value $321.01 $320.82 $281.34
   Choice Chuck Value $159.32 $165.86 $160.38
Other Livestock Prices      
   Barrows and Gilts (base price) $92.19 $90.37 $83.65
   Pork Carcass Cutout $94.54 $94.02 $79.55
   Georgia Dock Broilers $104.95 $104.92 $93.65
   Georgia Dock B/S Breasts $227.00 $225.50 $167.00
   Georgia Dock Leg Quarters $55.00 $55.50 $55.00
Feed Prices ($/ton)      
   Whole Cottonseed1 $300.00 $310.00 $248.00
   Cottonseed Meal1 $310.00 $310.00 $275.00
   Corn Gluten Meal (60%)1 $510.00 $510.00 $535.00
   Soybean Hulls1 $210.00 $210.00 $150.00
   Soybean Meal (48%)1 $495.70 $500.30 $423.30
   Wheat Midds1 N/A $180.00 $200.00
   Corn Gluten Feed2 $170.00 $170.00 $160.00
   Corn Gluten Pellets (21%)3 $245.00 $245.00 No Report
   Soybean Hull Pellets3 $242.50 $242.50 No Report
   Distillers’ Dried Grains4 $228.50 $222.50 $225.00
   Rice Bran5 $182.50 $182.50 $127.50
Meat Production (million lbs)  
   Beef 462.0 504.0 462.7
   Pork 385.8 425.4 380.5
Slaughter (1,000 head)  
   Cattle 594 648 596
   Hogs 1,867 2,054 1,827
   Broilers/Fryers 141,999 158,593 145,394
Avg. Dressed Weight  
   Cattle 779 779 778
   Hogs 207 207 208
Source: USDA Agricultural Marketing Service
1-Memphis; 2-St. Louis; 3-Alabama; 4-E. Corn Belt; 5-Arkansas

Southeastern Hay Market Report
  This Week Last Week
  Good Premium Good Premium
Bermuda        
4×5 Roll $70.00 $97.06 $77.38 $114.85
5×5 or 5×6 Roll NQ NQ NQ $100.00
Bahia        
4×5 Roll NQ NQ NQ NQ
5×5 or 5×6 Roll NQ NQ NQ NQ
Prices are $/ton
Source:  USDA-AL Dept of Ag, Market News, Montgomery, AL

 

Corn, Soybeans, Wheat Market Notes: Week Ending May 31, 2013


** by: Dr. Brian Williams **

Tuesday’s crop progress report showed that corn planting has nearly caught up with the 5-year average, but soybeans are still lagging behind. Soybean planting progress is currently at 44% for the U.S. crop and 46% for the Mississippi crop. That compares to 5 year averages of 61% and 88% respectively. July soybean futures closed up 14 cents on the day and up 34 cents on the week, with fears of reduced yields due to the slow planting progress. July corn finished up 8 cents at $6.62 to close the week 5 cents higher. Planting progress for corn is at 86% for the U.S. compared to a 5-year average of 90%. Wheat has held strong this week despite a bit of negative news. A few Asian countries have threatened to cut off imports of white wheat grown in the western U.S. after glyphosate resistant wheat was discovered earlier this week, although this is still a developing story that we will be watching closely. Nearby July wheat futures closed up 6 cents Friday to close the week 8 cents higher at $7.05/bu. The U.S. wheat crop is in much worse condition than a year ago with 38% of the crop rated at good to excellent, but Mississippi is in much better condition with 69% rated as good to excellent condition.

Small Grains Prices
May 24, 2013 May 31, 2013 Change
Nearby Corn Futures $6.57 $6.62 $0.05
Mississippi Corn* $7.02 $6.99 -$0.03
Nearby Soybeans Futures $14.76 $15.10 $0.34
Mississippi Soybeans* $14.99 $15.19 $0.20
Nearby Chicago Wheat Futures $6.97 $7.05 $0.08
Mississippi Wheat* $6.91 $6.92 $0.01

*Mississippi prices are average May 30, 2013 prices from Greeneville, Belzoni, Greenwood, and Indianola.

Livestock Price and Production Tables: Week Ending May 24, 2013


 

Mississippi Auction Markets
Weight Steers Heifers Slaughter Cows, Bulls, and Replacements
300-350 $165 $180 $140 $155 Boning (80-85% lean) $72 $80
350-400 $155 $165 $140 $155 Boning (high-yielding) $80 $87
400-450 $150 $160 $130 $140 Lean $64 $74
450-500 $140 $150 $130 $140 Bulls, YG 1-2, <1,500 lbs $85 $99
500-550 $128 $145 $120 $130 Bulls, YG 1-2, >1,500 lbs $90 $104
550-600 $128 $145 $120 $130  
600-650 $118 $134 $110 $120 Sm/Mdm Cow-Calf Pairs $1,100 $1,600
650-700 $118 $134 $110 $120 Mdm/Lg Cow-Calf Pairs $900 $1,200
700-750 $108 $117 $100 $110 Sm/Mdm Replacements $900 $1,300
750-800 $108 $117 $100 $110 Mdm/Lg Replacements $700 $1,100
Volume1 (head): vs Last Week vs Last Year  
under 600 lbs 3.9% -15.4%
over 600 lbs 2.8% -3.4%
Slaughter Cows 0.5% -31.0%
Rep. Females 0.6% -0.3%
Note: Steer and heifer prices are for medium and large frame, numbers 1-2.
1- Four Week Rolling Average
Source: USDA Agricultural Marketing Service

Futures Prices
Month Live Cattle Change* Feeder Cattle Change* Corn Change* Soybeans Change*
Jun $120.58 +1.03            
Jul         $6.57 +0.04 $14.76 +0.28
Aug $119.23 +0.55 $144.55 +1.03     $14.03 +0.24
Sep     $146.68 +0.83 $5.67 +0.11 $13.00 +0.11
Oct $122.80 +0.80 $148.53 +0.38     $12.48 +0.19
Nov     $149.95 +0.65     $12.48 +0.19
Dec $124.83 +1.30     $5.37 +0.17    
Jan     $149.90 +0.97     $12.54 +0.19
Feb $126.08 +1.28            
Mar     $150.50 +1.20 $5.48 +0.18 $12.58 +0.18
Apr $127.33 +1.00 $151.50 +0.50        
May     $153.50 +19.70 $5.55 +0.18 $12.59 +0.17
Source: CME Group
Note: Cattle prices in $/cwt; Corn & Soybean prices in $/bu
*Change from last Friday’s close.

Feeder Calf Markets (price for M&L #1-2 steers)
  750-800 lbs 500-550 lbs
Mississippi $112.50 $136.50
OKC $127.67 $139.70
Kentucky $127.55 $140.90
Joplin, MO $126.87 $143.81
Tulia, TX $129.00 NQ

Price and Production Summary
  This Week Last Week Last Year
5-Area Fed Steer Price      
   Live $124.45 $124.79 $121.27
   Dressed $199.85 $199.76 $193.50
OKC Feeder Cattle Prices      
   7.5-8 wt M&L #1 steer $131.17 $131.90 $153.67
   5-5.5 wt M&L #1 steer $151.07 $164.08 $194.09
BBCV (weekly avg.)      
   600-900 lb Choice cutout $210.47 $207.49 $194.88
   600-900 lb Select cutout $192.11 $192.33 $186.69
   Choice Rib Value $320.82 $314.54 $276.21
   Choice Chuck Value $165.86 $163.41 $162.43
Other Livestock Prices      
   Barrows and Gilts (base price) $90.37 $90.22 $81.40
   Pork Carcass Cutout $94.02 $92.08 $79.92
   Georgia Dock Broilers $104.92 $104.53 $93.58
   Georgia Dock B/S Breasts $225.50 $218.50 $170.50
   Georgia Dock Leg Quarters $55.50 $55.00 $55.00
Feed Prices ($/ton)      
   Whole Cottonseed1 $310.00 $300.00 $250.00
   Cottonseed Meal1 $310.00 $315.00 $275.00
   Corn Gluten Meal (60%)1 $510.00 $510.00 $535.00
   Soybean Hulls1 $210.00 $210.00 $150.00
   Soybean Meal (48%)1 $500.30 $460.10 $430.00
   Wheat Midds1 $180.00 $180.00 $190.00
   Corn Gluten Feed2 $170.00 $170.00 $160.00
   Corn Gluten Pellets (21%)3 $245.00 $246.50 $187.50
   Soybean Hull Pellets3 $242.50 $262.50 $172.50
   Distillers’ Dried Grains4 $222.50 $230.00 $230.00
   Rice Bran5 $182.50 $182.50 $127.50
Meat Production (million lbs)  
   Beef 504.0 507.3 492.4
   Pork 425.4 421.0 431.6
Slaughter (1,000 head)  
   Cattle 648 652 636
   Hogs 2,030 2,054 2,069
   Broilers/Fryers 158,593 156,964 159,214
Avg. Dressed Weight  
   Cattle 779 780 776
   Hogs 207 208 209
Source: USDA Agricultural Marketing Service
1-Memphis; 2-St. Louis; 3-Alabama; 4-E. Corn Belt; 5-Arkansas

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

% Change

Liquid N (28% spread) $ 459.50 $ 459.50 $ 460.00 -0.1%
Ammonium Nitrate $ 510.00 $ 510.00 $ 530.00 -3.8%
13-13-13 $ 504.50 $ 504.50 $ 512.00 -1.5%
17-17-17 $ 599.00 $ 599.00 $ 596.50 0.4%
DAP (18%N, 46%P) $ 652.50 $ 652.50 $ 624.00 4.6%
Potash $ 615.00 $ 615.00 $ 647.00 -4.9%
Lime $ 37.50 $ 37.50 $ 37.50 0.0%
Farm Diesel $ 3.39 $ 3.40 $ 3.49 -3.0%
Source:  USDA- AL Dept of Ag, Market News, Montgomery, AL
Fertilizer prices are $/ton, Diesel prices are $/gal for <1,000 gallons

Southeastern Hay Market Report
  This Week Last Week
  Good Premium Good Premium
Bermuda        
4×5 Roll $77.38 $114.85 $80.00 $101.82
5×5 or 5×6 Roll NQ 100 NQ $100.00
Bahia        
4×5 Roll NQ NQ NQ NQ
5×5 or 5×6 Roll NQ NQ NQ 86.67
Prices are $/ton
Source:  USDA-AL Dept of Ag, Market News, Montgomery, AL

 

Cattle Market Notes: Week Ending May 17, 2013


Cash Cattle:

The five-area live price was at $124.79/cwt on Friday compared to $126.22 last week and similarly the dressed price was a few dollars lower at $199.76/cwt compared to $202.74. In Panhandle of Texas and Oklahoma, live cattle sold at $125/cwt on Thursday. Trade in Kansas on Friday came in at $125-$125.50/cwt on a live basis. Nebraska live and dressed cattle sold at $125.50/cwt and $200-$202/cwt, respectively. Western Cornbelt live prices were reported at $125, while dressed came in at $198-$202.

Feeders in Oklahoma City were mixed with heavy steers and all feeder heifers being steady to $2/cwt higher, while feeders under 800 pounds were steady to $2/cwt lower. Calves in OKC were $2/cwt lower. In Mississippi auction markets this week all steer cattle were lower about $2-$5/cwt and heifers were mixed. Cull cows in Mississippi were steady to $1/cwt lower and bulls were $2-$5/cwt higher.

Futures:

Live cattle futures slid lower this week. The nearby contract worked higher early before dropping. Deferred contracts slid all week long. This happened in spite of record setting boxed beef prices. Cash fed cattle moved lower adding pressure. Finally, USDA released their monthly Cattle on Feed and traders were looking for a sharp year-over-year jump in April placements, which likely added to the negative tone. Placements ended slightly higher than expected but the total number on feed was only 0.3 percentage points lower than expected (more here).

Old crop corn futures gained and new crop futures fell. A stronger U.S. dollar added some pressure. Mostly, improved weather likely had planters rolling.

Beef:

Choice boxed beef soared to $209.51 this Friday setting records along the way. Retailers are gearing up for the upcoming Memorial Day holiday which helped spur purchases in hopes that warmer temps will draw consumers outdoors to their grills. The weekly average for Choice beef was $207.49/cwt, up $4.17, and Select finished with a weekly average of $192.33/cwt, up $1.78.

May Cattle on Feed Report Recap


The USDA released their monthly Cattle on Feed report this afternoon (May 17). The report shows 3.4% fewer cattle in feedlots with over 1,000 head capacity (10.735 million head total versus 11.110 last year). This is a 1.8% decline from the five-year average. Placements durring April were well above one year ago at 1.750 million head, up 15.1% from last year and 8.3% above the average from 2008-2012. Marketings were 2.2% higher than last year at 1.855 million head. 

Continue reading “May Cattle on Feed Report Recap”

Livestock Price and Production Tables: Week Ending May 17, 2013


Mississippi Auction Markets
Weight Steers Heifers Slaughter Cows, Bulls, and Replacements
300-350 $175 $185 $150 $165 Boning (80-85% lean) $72 $80
350-400 $160 $175 $140 $150 Boning (high-yielding) $80 $88
400-450 $150 $160 $130 $145 Lean $63 $74
450-500 $143 $150 $130 $145 Bulls, YG 1-2, <1,500 lbs $84 $98
500-550 $132 $147 $127 $140 Bulls, YG 1-2, >1,500 lbs $92 $107
550-600 $132 $147 $127 $140
600-650 $130 $137 $120 $130 Sm/Mdm Cow-Calf Pairs $1,200 $1,600
650-700 $120 $130 $120 $130 Mdm/Lg Cow-Calf Pairs $950 $1,300
700-750 $115 $130 $110 $125 Sm/Mdm Replacements $850 $1,250
750-800 $110 $115 $105 $110 Mdm/Lg Replacements $700 $1,000
Volume1 (head): vs Last Week vs Last Year
under 600 lbs 10.1% -14.3%
over 600 lbs -4.4% -6.2%
Slaughter Cows 10.4% -30.3%
Rep. Females 19.3% 0.1%
Note: Steer and heifer prices are for medium and large frame, numbers 1-2.
1- Four Week Rolling Average
Source: USDA Agricultural Marketing Service

Continue reading “Livestock Price and Production Tables: Week Ending May 17, 2013”

Small Grains and Soybeans Market News


by Brian Williams

Traders have been watching planting progress closely this week. Nearby July wheat futures closed down 4 cents Friday to close the week at $6.83/bu. Wheat harvest will likely be behind schedule this year with only 29% of the U.S. wheat crop currently headed out compared to a 5 year average of 51%, however Mississippi is at 98% headed out compared to an average of 99%. The U.S. wheat crop is in much worse condition than a year ago with 39% of the crop rated at poor or very poor. July corn finished up 11 cents at $6.41, and is up 16 cents on the week. Planting progress for corn is at 28% for the U.S. and 91% for Mississippi, with both numbers being behind the 5-year average. With favorable planting conditions most of this week, expect significant progress to be reflected in Monday’s crop report. Soybeans had a positive week, with July soybeans finishing up 21 cents on the day to close the week 49 cents higher. Soybean planting progress has also been slow with about 6% of the U.S. crop in and 17% of the Mississippi crop. That compares to 5 year averages of 24% and 71% respectively. Continue reading “Small Grains and Soybeans Market News”