SASH
Well-known member
Cattle Outlook: No Big Back Log Of Cattle In Canada When Border Opened
Live cattle imports from Canada are at a total of 33,120 head from July 18 through August 11; 17,480 head were slaughter cattle and 15,640 head were feeder cattle. These data are probably underestimating the numbers because they do not have weekend data and are unedited. However, the bottom line is that there was not a big back log of young fed cattle backed up in Canada when the border opened.
Feeder steer and heifer prices were steady to $2 per cwt lower with the exception of 800-900# feeder steers which were steady to $1 per cwt higher than a week earlier. Steer calves under 600# were steady to $4 per cwt lower and heifer calves were steady with a week earlier. All of the feeder prices were for Oklahoma City.
The prices by weight groups for medium and large frame number one steers this week at Oklahoma City were: 400-500# $128-154 per cwt, 500-600# $115-134 per cwt, 600-700# calves $106-116.25 per cwt, 625-700# yearlings $117-123.50 per cwt, 700-800# yearlings $107-116.50 and 800-1000# $92-100 per cwt.
Fed cattle prices were pushed lower this week in light trade through Thursday. The 5 market live prices weighted average price through Thursday were $80.00 per cwt down $2.30 per cwt from the same period last week. The weighted average negotiated carcass price was down $2.80 per cwt at $126.90 for the week through Thursday.
Packers were able to improve their margins some at least through Thursday this week. Wholesale beef prices were higher this Friday morning than a week earlier. Choice beef at $135.01 per cwt was up $3.96 per cwt from a week earlier and select beef was up $4.59 per cwt at $127.75 per cwt.
Cow slaughter for the year through the week ending July 30 was down 6.4% from 12 months earlier. Both beef and dairy cow slaughter was down 6.4% for this period compared to 2004. This slaughter reduction was on top of a 15.1% reduction for January-July of 2004. Compared to 2003 the January-July slaughter for 2005 was down 22.7%. This is strong evidence that the breeding herd is growing in the U.S.
Cattle slaughter this week under Federal Inspection was estimated this week at 629 thousand head down 2.2% from a year earlier.
The USDA August estimate of the corn crop is 10.350 billion bushels down 1.457 billion bushels from the record 2004 crop but still a good crop with the drought this year in several areas.
The average yield for corn this year is estimated at 139.2 bushels per acre --- down 21.2 bushels per acre from 2004.
USDA estimated average corn price for the 05-06 marketing year is $2.00 per bushel.
The soybean crop is estimated at 2.158 billion bushels but August weather is very important for the bean crop therefore the jury is still out on the 2005 soybean crop.
This level of a soybean and corn crop will reduce carryover stocks. USDA estimated soybean price for the 05-06 marketing year is $3.40 per bushel.
Live cattle imports from Canada are at a total of 33,120 head from July 18 through August 11; 17,480 head were slaughter cattle and 15,640 head were feeder cattle. These data are probably underestimating the numbers because they do not have weekend data and are unedited. However, the bottom line is that there was not a big back log of young fed cattle backed up in Canada when the border opened.
Feeder steer and heifer prices were steady to $2 per cwt lower with the exception of 800-900# feeder steers which were steady to $1 per cwt higher than a week earlier. Steer calves under 600# were steady to $4 per cwt lower and heifer calves were steady with a week earlier. All of the feeder prices were for Oklahoma City.
The prices by weight groups for medium and large frame number one steers this week at Oklahoma City were: 400-500# $128-154 per cwt, 500-600# $115-134 per cwt, 600-700# calves $106-116.25 per cwt, 625-700# yearlings $117-123.50 per cwt, 700-800# yearlings $107-116.50 and 800-1000# $92-100 per cwt.
Fed cattle prices were pushed lower this week in light trade through Thursday. The 5 market live prices weighted average price through Thursday were $80.00 per cwt down $2.30 per cwt from the same period last week. The weighted average negotiated carcass price was down $2.80 per cwt at $126.90 for the week through Thursday.
Packers were able to improve their margins some at least through Thursday this week. Wholesale beef prices were higher this Friday morning than a week earlier. Choice beef at $135.01 per cwt was up $3.96 per cwt from a week earlier and select beef was up $4.59 per cwt at $127.75 per cwt.
Cow slaughter for the year through the week ending July 30 was down 6.4% from 12 months earlier. Both beef and dairy cow slaughter was down 6.4% for this period compared to 2004. This slaughter reduction was on top of a 15.1% reduction for January-July of 2004. Compared to 2003 the January-July slaughter for 2005 was down 22.7%. This is strong evidence that the breeding herd is growing in the U.S.
Cattle slaughter this week under Federal Inspection was estimated this week at 629 thousand head down 2.2% from a year earlier.
The USDA August estimate of the corn crop is 10.350 billion bushels down 1.457 billion bushels from the record 2004 crop but still a good crop with the drought this year in several areas.
The average yield for corn this year is estimated at 139.2 bushels per acre --- down 21.2 bushels per acre from 2004.
USDA estimated average corn price for the 05-06 marketing year is $2.00 per bushel.
The soybean crop is estimated at 2.158 billion bushels but August weather is very important for the bean crop therefore the jury is still out on the 2005 soybean crop.
This level of a soybean and corn crop will reduce carryover stocks. USDA estimated soybean price for the 05-06 marketing year is $3.40 per bushel.
