The Markets

By : Brenda Boetel, Professor and Extension Economist, Department of Agricultural Economics, University of Wisconsin-River Falls

 

Last week saw cattle futures come surging back, primarily on technically-driven trading. Although optimism over the potential end of the trade-war with China boosted some commodity prices. The trade war isn’t over, but there is more light at the end of the tunnel.
Market-ready cattle supplies are up from last year. Expect the year-over-year increase to decline as the quarter goes on. As packer margins decrease, slaughter schedules may also decrease in the near term. Expectations are for continued strong domestic demand as unemployment remains low; however, there is no new news regarding exports.
 
 
Week of
Week of
Week of
Data Source: USDA-AMS Market News
 
1/11/2019
1/4/2019
1/12/2018
 
 
 
$/cwt
 
5-Area Fed Steer
all grades, live weight
$123.71 
$122.55 
$119.92 
all grades, dressed weight
$196.78 
$194.64 
$191.72 
Boxed Beef
Choice Price, 600-900 lb.
$213.70 
$215.75 
$209.61 
Choice-Select Spread
$6.51 
$6.09 
$6.63 
700-800 lb. Feeder Steer
Montana 3-market
$146.65 
$149.18 
Nebraska 7-market
$151.41 
$153.91 
$153.14 
Oklahoma 8-market
$144.00 
$144.53 
500-600 lb. Feeder Steer
Montana 3-market
$177.36 
$179.29 
Nebraska 7-market
$182.58 
$181.75 
$191.76 
Oklahoma 8-market
$165.48 
$168.60 
Feed Grains
Corn, Omaha, NE, $/bu 
$3.56 
$3.63 
$3.30 
DDGS, Nebraska, $/ton
$155.00 
$161.25 
$145.50 
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