DTN Reports:
It was a mixed day for the livestock complex as the cattle sector was fully supported, but the lean hog complex saw mixed interest. The biggest news for the cattle complex was that dressed cattle prices jumped $6.00 higher again this week, surpassing last week’s record-breaking trade.
LIVE CATTLE:
With the help of committed feedlot managers in the North, Northern dressed cattle prices didn’t trade a mere $1.00 to $2.00 higher. Instead, dressed cattle traded throughout the day were marked at mostly $355, which is $6.00 higher than last week’s weighted average. No new live cattle sales have surfaced from the South, but on Tuesday and Wednesday, Southern live cattle sold for mostly $219 to $220, which is $1.00 to $2.00 higher than last week’s weighted average as well. But thanks to the added support from the fed cash cattle market, traders again advanced the live cattle contracts through Thursday’s close. June live cattle closed $1.72 higher at $214.25, August live cattle $1.62 higher at $210.00 and October live cattle closed $1.30 higher at $207.47. A few more clean-up deals could surface, but the bulk of this week’s business is likely done with. Asking prices for cattle left to trade in the South remain firm at $221 plus, and in the North at $356 plus. Thursday’s slaughter is estimated at 120,000 head — steady with a week ago and 1,000 head less than a year ago.
Boxed beef prices closed mixed: choice up $1.74 ($347.89) and select down $0.80 ($333.20) with a movement of 122 loads (62.82 loads of choice, 14.08 loads of select, 29.98 loads of trim and 14.98 loads of ground beef).
FRIDAY’S CATTLE CALL:
Steady. Given that trade has now developed in both regions, any more sales that develop are likely to follow the week’s trend.
FEEDER CATTLE:
The feeder cattle complex grew stronger and stronger as the day traded on, as the market had more than enough support pouring into its sphere. Between the added support of the live cattle contracts’ higher push, the stronger fed cash cattle prices and the continued buyer interest in sale barns across the country — dare I say it was almost easy for traders to push the spot August contract to yet another new contract high? May feeders closed $3.02 higher at $297.47, August feeders closed $2.65 higher at $301.25 and September feeders closed $2.90 higher at $300.22. The CME feeder cattle index 5/7/2025: up $2.37, $295.78.
What are cattle Packer margins currently?