Tennessee Market Highlights - Agricultural & Resource Economics

Tennessee Market Highlights
Trends for the Week
Compared to a Week Ago
Slaughter Cows
$1 to $3 higher
Slaughter Bulls
Steady to $2 higher
Feeder Steers
Steady to $3 higher
Feeder Heifers
Steady to $5 higher
Feeder Cattle Index
Wednesday’s index: 239.97
Fed Cattle
The 5-area live price of $169.00 is up
$1.47. The dressed price is up $3.00
at $265.00.
Corn
December closed at $3.72 a bushel,
down 9 cents a bushel since last
Friday.
Wheat
December closed at $5.47 a bushel,
down 13 cents a bushel since last
Friday.
Cotton
December closed at 59.72 cents per
lb, down 0.08 cents per lb since last
Friday.
Number: 47
Livestock Comments by Dr. Andrew P. Griffith
FED CATTLE: Fed cattle traded $2 to $4
higher on a live basis compared to a week
ago. Prices were mainly $172 to $174 on a
live basis while dressed trade was mainly
$267. The 5-area weighted average prices
thru Thursday were $169.00 live, up $1.47
from last week and $265.00 dressed, up
$3.00 from a week ago. A year ago prices
were $130.43 live and $206.45 dressed.
Cash prices have again stepped to the tune
of higher fed cattle futures market prices as
they each continue to scale the mountain.
The price of the December futures market
contract has increased more than $20 since
the middle of August and has increased a
total of about $4 the past two weeks. The
increase in the futures price has resulted in
feedlot managers holding firm on asking
prices. If packers are not willing to pay then
the feedlots just continue to feed the
cattle, and this is becoming ever more noticeable as fed cattle weights are on the
rise. Steers averaged 903 pounds on a
dressed basis last week which is 26 pounds
heavier than the same week a year ago.
Similarly, heifers averaged 830 pounds on a
dressed basis which is 26 pounds heavier
than a year ago.
Soybeans
January closed at $10.39 a bushel, up
17 cents a bushel since last Friday.
November 21, 2014
BEEF CUTOUT: At midday Friday, the
Choice cutout was $255.65 up $0.26 from
Thursday and up $2.78 from last Friday. The
Select cutout was $243.33 up $0.34 from
Thursday and up $4.98 from last Friday. The
Choice Select spread was $12.32 compared
to $14.52 a week ago. It is probably not
safe to say packer margins are out of the
red since fed cattle prices continue to overshadow beef cutout prices. However, beef
cutout prices are finding some support
heading into the holiday season as beef
ribeye prices are beginning to find a foothold, chuck prices continue to amaze, and
90 percent lean trimmings maintain the
market strength that began in July. There
will be a number of grocers that do not
focus on beef features before the holidays
due to high retail beef prices. However,
there will be a few in the retail sector who
feature beef which will provide some support and help beef cutout prices to make
some additional gains prior the end of the
year. Retailers will continue finding it difficult to move high valued cuts of beef, but
consumers are speaking with their disposable income as they remain active in the
ground product market resulting in a strong
demand for beef. The export market will
remain key to moving higher priced beef
products the next several years.
TENNESSEE AUCTIONS: On Tennessee auctions this week compared to a week ago
steers and bulls were steady to $3 higher.
Heifers were steady to $5 higher. Slaughter
cows were $1 to $3 higher while bulls were
steady to $2 higher. Average receipts per
sale were 558 head on 11 sales compared
to 842 head on 12 sales last week and 770
head on 10 sales last year.
OUTLOOK: Cattle movement has been
strong throughout the fall time period as
cow-calf producers have been actively marketing freshly weaned calves. The Thanksgiving holiday will slow marketings next
week, but numbers are expected to have a
resurgence the first week of December as
producers are attempting to market the last
of the spring born calves before inclement
winter weather. Demand for grass cattle
has remained strong locally and in the
Southern Plains. Many of the primary
wheat pasture regions have received multiple rains the past month which will support
pasture growth and thus calf prices. Similarly, moisture in the Southeast has been adequate and a couple more weeks of warm
weather will promote cool season grass and
small grain growth. If calf and feeder cattle
prices maintain current levels then the cost
of gain both on grass and in the feedlot will
become more important than it already is.
The cost of gain has always been important
for margin producers, but managing it
(Continued on page 2)
Livestock Comments by Dr. Andrew Griffith
December live cattle closed at $170.25. Support is at $169.63,
then $168.21. Resistance is at $171.06 then $172.48. The RSI is
62.36. February live cattle closed at $171.82. Support is at
$170.95, then $169.18. Resistance is at $172.73, then $174.50.
The RSI is 66.02. April live cattle closed at $170.30. Support is at
$170.20, then $169.70. Resistance is at $170.40, then $170.45.
The RSI is 69.11. November feeders closed at $240.43. Support
is at $240.21, then $239.86. Resistance is at $240.56 then
$240.91. The RSI is 63.25. January feeders closed at $235.57.
Support is at $234.40, then $231.65. Resistance is at $237.15
then $239.90. The RSI is 61.60. March feeders closed at
$233.73. Support is at $233.50, then $232.80. Resistance is at
$234.00, then $235.33. The RSI is 61.91. Friday’s closing prices
were as follows: Live/fed cattle –December $170.90 +0.65; February $172.15 +0.33; April $170.43 +0.13; Feeder cattle - January $236.35 +0.78; March $234.45 +0.73; April $234.60 +0.65;
May $234.63 +0.63; December corn closed at $3.73 down $0.01
from Thursday.
(Continued from page 1)
along with the financial risk of owning feeder cattle worth
$1,800 or more becomes more expensive if any negative risk
information enters the market. However, information perceived as contributing to negative risk has not appeared to enter the market at this time as fed cattle margins continue to
improve due to week-to-week gains in fed cattle prices. Producers are encouraged to consider all risk management tools as
much more money or value is being passed between hands as
cattle are traded.
The November cattle on feed report for feedlots with a 1000
head or more capacity indicated cattle and calves on feed as of
November 1, 2014 totaled 10.63 million head slightly above a
year ago, which is within the pre-report estimate range. October placements in feedlots totaled 2.36 million head, down
0.9% from a year ago with the pre-report estimate average expecting placements down 4.3%. October marketing’s totaled
1.69 million head down 7.8% from 2013 which is on target with
the pre-report estimate expectation. Placements on feed by
weight: under 800 pounds down 4.5% and 800 pounds and over
up 10.4%.
Milk Futures
Month
Nov
Dec
Jan
Feb
Mar
TECHNICALLY SPEAKING: Based on Thursday’s closing prices,
Average Daily Slaughter
Cattle
Hogs
Thursday November 20, 2014
Class III Close Class IV Close
21.92
18.35
18.69
17.24
17.24
16.06
16.88
15.47
16.66
15.06
USDA Box Beef Cutout Value
Choice 1-3
600-900 lbs
———— Number of head ————
This week (4 days)
110,500
Last week (4 days)
108,750
Year ago (4 days)
118,750
This week as percentage of
Week ago (%)
102%
Year ago (%)
93%
425,750
417,750
437,250
Select 1-3
600-900 lbs
———————— $/cwt —-———————
Thursday
Last Week
Year ago
Change from week ago
Change from year ago
102%
97%
255.39
251.35
199.34
+4.04
+56.05
242.99
238.93
187.30
+4.06
+55.69
Crop Comments by Dr. Aaron Smith
Overview
Corn, cotton, and wheat were down; soybeans were up for the week. December 2014 corn started the week at $3.81 per bushel decreased 19 cents
before rebounding on Thursday from strong export sales numbers, closing
down 9 cents for the week. As we move through the holiday season, it is likely that we will see March corn continue trading between $3.50 and $4.00,
however as we move into the new year prices may turn lower as the record crop moves to market. Producers should strongly consider pricing production that will be stored into the New Year. Given the size of the corn crop there is limited upside in the corn
market for the near future. In October, January soybean futures increased $1.30/bu from $9.19 to $10.49, since then prices have
traded sideways in a range of $9.95 to $10.86. A great deal of volatility remains in the soybean futures market with daily high-low
price spreads of 20+ cents, although this has moderated some from the 50+ cent spreads of the previous week. Like corn, we are
likely to see soybean futures trade reasonably flat, but with continued volatility. Nearby cotton futures remain below 60 cents per
pound. It is important for producers to be cognizant that marketing loan gains and loan deficiency payments count toward the
payment limits in the new Farm Bill. As such, any payments received could restrict 2014 payments under the ARC or PLC programs
that producers will be choosing in the New Year.
2
Crop Comments by Dr. Aaron Smith
Corn
December 2014 corn futures closed at $3.72 down 9 cents a bushel since last week with support at $3.62 and resistance at $3.86.
Across Tennessee average basis (cash price- nearby future price) strengthened or remained unchanged at Memphis, Northwest
Barge Points, Northwest, and Lower-middle Tennessee and weakened in Upper-middle Tennessee. Overall average basis for the
week ranged from 46 under to 31 over the December futures contract with an average of 3 under at the end of the week. Ethanol
production for the week ending November 14th was 970,000 barrels per day up 24,000 barrels per day from last week. Ending ethanol stocks were 17.335 million barrels down 370,000 barrels from last week. Nationally, the November 17th Crop Progress report
estimated corn harvested at 89% compared to 80% last week, 90% last year, and a 5-year average of 88%. In Tennessee, the Crop
Progress report estimated corn harvested at 99% compared to 98% last week, 97% last year, and a 5-year average of 99%. This
week December 2014 corn futures prices traded between $3.62 and $3.84. Dec/Mar and Dec/Sep future spreads were 13 cents
and 35 cents, respectively.
January cash forward contracts at elevators and barge points for the week averaged $3.79 with a range of $3.41 to $4.06. March
2015 corn futures closed at $3.85 down 9 cents from last week with support at $3.75 and resistance at $3.98. Corn net sales reported by exporters from November 7th to 13th were above expectations with net sales of 35.8 million bushels for the 2014/15
marketing year. Exports for the same time period were down from last week at 15.2 million bushels. Corn export sales and commitments were 46% of the USDA estimated total annual exports for the 2014/15 marketing year (September 1 to August 31) compared to a 5-year average of 49%. September 2015 futures closed at $4.07. Downside price protection could be obtained by purchasing a $4.10 September 2015 Put Option costing 36 cents establishing a $3.74 futures floor.
Soybeans
January 2015 soybean futures closed at $10.39 up 17 cents for the week with support at $10.04 and resistance at $10.57. Jan/Dec
soybean to corn price ratio was 2.79 at the end of the week. For the week, average soybean basis strengthened or remained unchanged at Memphis, Northwest, and Lower-middle Tennessee and weakened at Northwest Barge Points and Upper middle Tennessee. Basis ranged from 30 under to 40 over the January futures contract at elevators and barge points. Average basis at the end
of the week was 7 over the January futures contract. The Crop Progress report estimated soybeans harvested at 94% compared to
90% last week, 94% last year, and a 5-year average of 96%. In Tennessee, the Crop Progress report estimated soybeans harvested
at 83% compared to 73% last week, 72% last year, and a 5-year average of 77%. January cash forward contracts averaged $10.29
with a range of $9.68 to $10.81. This week January 2015 soybean futures traded between $10.03 and $10.42.
3
(Continued on page 4)
Crop Comments by Dr. Aaron Smith
March 2015 soybean futures closed at $10.46 up 16 cents for the week with support at $10.12 and resistance at $10.64. Net sales
reported by exporters were below expectations with net sales of 17.7 million bushels for the 2014/15 marketing year. Exports for
the same period were up from last week at 113.1 million bushels. Soybean export sales and commitments were 79% of the USDA
estimated total annual exports for the 2014/15 marketing year (September 1 to August 31), compared to a 5-year average of 70%.
Jan/Mar and Jan/Nov future spreads were 7 cents and -22 cents. Nov/Sep 2015 soybean to corn price ratio was 2.50. November
2015 futures closed at $10.17. Downside price protection could be achieved by purchasing a $10.20 November 2015 Put Option
which would cost 76 cents and set a $9.44 futures floor.
Cotton
December 2014 cotton futures closed at 59.72 cents down 0.08 cents for the week with support at 58.07 and resistance at 60.63.
Cotton adjusted world price (AWP) decreased 2.45 cents to 46.12 cents. The Crop Progress report estimated cotton harvested at
69% compared to 62% last week, 66% last year, and a 5-year average of 74%. In Tennessee, the Crop Progress report estimated
cotton harvested at 71% compared to 60% last week, 54% last year, and a 5-year average of 82%. December cotton futures traded
between 57.84 and 60.1 cents this week.
March 2014 cotton futures closed at 59.52 down 0.11 cents for the week with support at 58.41 and resistance at 60.29. Net sales
reported by exporters were up from last week at 172,000 bales for the 2014/15 marketing year. Exports for the same period were
down from last week at 62,600 bales. Upland cotton export sales were 68% of the USDA estimated total annual exports for the
2014/15 marketing year (August 1 to July 31), compared to a 5-year average of 66%. Dec/Mar and Dec/Dec futures spread were 0.20 cents and 4.11 cents. December 2015 cotton futures closed at 63.83. Downside price protection could be obtained by purchasing a 64 cent December 2015 Put Option costing 4.84 cents establishing a 59.16 cent futures floor.
Wheat
December 2014 wheat futures closed at $5.47 down 13 cents from last week with support at $5.34 and resistance at $5.60. In
Memphis, old crop cash wheat traded between $4.92 and $5.07 for the week. December wheat futures traded between $5.32 and
$5.63 this week. December wheat to corn price ratio was 1.47. Dec/Mar and Dec/July future spreads were 6 cents and 19 cents.
March 2015 wheat futures closed at $5.53 down 9 cents from last week with support at $5.41 and resistance at $5.66. Net sales
reported by exporters were within expectations at 13.3 million bushels for the 2014/15 marketing year. Exports for the same peri(Continued on page 5)
4
Crop Comments by Dr. Aaron Smith
od were down from last week at 6.6 million bushels. Wheat export sales were 65% of the USDA estimated total annual exports for
the 2014/15 marketing year (June 1 to May 31), compared to a 5-year average of 65%. The Crop Progress report estimated winter
wheat planted at 95% compared to 93% last week, 99% last year, and a 5-year average of 97%; winter wheat emerged at 87% compared to 83% last week, 88% last year, and a 5-year average of 84%; and winter wheat condition at 60% good to excellent and 6%
poor to very poor. In Tennessee, winter wheat planting was estimated at 85% compared to 75% last week, 73% last year, and a 5year average of 83%; winter wheat emerged at 59% compared to 45% last week, 42% last year, and a 5-year average of 54%; and
winter wheat condition at 78% good to excellent and 1% poor to very poor. June/July 2015 cash forward contracts averaged $5.42
with a range of $4.94 to $5.73 at elevators and barge points. July 2015 wheat futures closed at $5.66. Downside price protection
could be obtained by purchasing a $5.70 July 2015 Put Option costing 41 cents establishing a $5.29 futures floor.
Farm Bill Update
Important deadlines for producers/landowners for the 2014 Farm Bill:
1.
2.
September 29 to February 28th. During this period, paperwork dealing with the program yield updating and program acre reallocation decisions can be completed for each FSA farm.
November 17 to March 31. During this period, paperwork dealing with program choice (Agricultural Risk Coverage - County
(ARC-CO), Price Loss Coverage (PLC), and Agricultural Risk Coverage - Individual Coverage (ARC-IC)) can be completed for each
FSA farm.
Additional details and helpful links can be found on the University of Tennessee Extension Farm Bill webpage: http://
economics.ag.utk.edu/farmbill.html. If you would like further information or clarification on topics discussed in the crop comments
section or would like to be added to our free email list please contact me at aaron.smith@utk.edu.
5
Futures Settlement Prices: Crops & Livestock
Commodity
Soybeans
($/bushel)
Friday, November 14, 2014 — Thursday, November 20, 2014
Contract Month
Friday
Monday
Tuesday
Wednesday
Jan
10.22
10.36
10.23
10.04
Mar
10.30
10.44
10.31
10.12
May
10.36
10.50
10.37
10.18
Jul
10.42
10.55
10.42
10.23
Aug
10.43
10.55
10.42
10.24
Sep
10.26
10.36
10.23
10.05
Thursday
10.20
10.28
10.34
10.39
10.39
10.18
Corn
($/bushel)
Dec
Mar
May
Jul
Sep
Dec
3.81
3.94
4.02
4.09
4.16
4.24
3.77
3.90
3.99
4.06
4.12
4.21
3.72
3.85
3.93
4.01
4.07
4.16
3.63
3.76
3.85
3.92
3.98
4.07
3.73
3.86
3.95
4.02
4.08
4.16
Wheat
($/bushel)
Dec
Mar
May
Jul
Sep
5.60
5.62
5.69
5.75
5.84
5.51
5.53
5.60
5.67
5.76
5.49
5.51
5.57
5.64
5.73
5.37
5.41
5.47
5.53
5.62
5.47
5.52
5.59
5.64
5.73
Soybean Meal
($/ton)
Dec
Jan
Mar
May
Jul
Aug
379
365
350
345
345
346
387
370
353
349
349
349
378
363
348
343
343
343
370
356
340
335
336
336
370
359
347
342
342
342
Cotton
(¢/lb)
Dec
Mar
May
Jul
Oct
59.80
59.63
60.66
61.58
63.02
58.81
59.10
60.12
61.05
62.49
59.97
59.86
60.81
61.75
63.20
59.11
59.10
60.04
60.99
62.44
58.54
58.86
59.81
60.75
62.20
Live Cattle
($/cwt)
Dec
Feb
Apr
Jun
Aug
170.20
171.27
169.25
160.37
157.55
171.00
172.10
169.72
160.77
157.40
170.82
172.07
170.00
161.10
157.67
170.82
172.30
170.20
161.17
157.40
170.25
171.82
170.30
162.00
157.95
Feeder Cattle
($/cwt)
Nov
Jan
Mar
Apr
May
Aug
240.00
236.12
234.60
234.80
234.87
235.27
240.02
237.47
235.65
235.77
235.52
235.85
240.42
237.27
235.60
236.12
235.80
235.87
240.55
237.10
235.32
235.82
235.52
235.80
240.42
235.57
233.72
233.95
233.55
233.82
Market Hogs
($/cwt)
Dec
Feb
Apr
May
Jun
92.67
92.75
93.85
94.00
97.47
93.00
92.62
94.10
94.50
97.50
91.55
91.12
92.95
94.35
97.05
91.77
91.65
93.60
94.50
98.00
90.77
90.90
92.75
94.80
98.00
6
Prices on Tennessee Reported Livestock Auctions for the week ending November 21, 2014
Low
This Week
High
Weighted Average
Last Week
Weighted Average
Year Ago
Weighted Average
—————————————————————— $/cwt ——————————————————————
Steers: Medium/Large Frame #1-2
300-400 lbs
275.00
355.00
306.63
301.56
195.99
400-500 lbs
240.00
315.00
272.98
272.66
175.46
500-600 lbs
217.00
270.00
244.42
243.96
158.74
600-700 lbs
206.00
245.00
226.69
228.39
149.53
700-800 lbs
201.00
228.00
215.35
216.25
142.33
300-400 lbs
290.00
315.00
298.19
274.14
167.81
400-500 lbs
200.00
260.00
243.06
259.52
149.19
500-600 lbs
210.00
235.00
217.67
223.98
141.97
600-700 lbs
170.00
218.00
194.88
216.50
———
Steers: Small Frame #1-2
Steers: Medium/Large Frame #3
300-400 lbs
220.00
325.00
276.28
269.08
174.64
400-500 lbs
215.00
282.50
240.70
244.65
159.05
500-600 lbs
185.00
254.00
217.65
222.81
147.42
600-700 lbs
189.00
221.00
207.50
213.36
137.93
700-800 lbs
148.00
201.00
168.76
196.52
132.52
300-400 lbs
———
———
———
———
108.14
500-600 lbs
167.50
180.00
175.93
———
———
700-800 lbs
———
———
———
155.39
———
Breakers 75-80%
92.00
115.00
106.42
105.14
76.69
Boners 80-85%
100.50
117.50
108.59
106.77
76.41
Lean 85-90%
89.50
104.00
97.31
94.88
69.24
Bulls YG 1
120.50
136.00
129.02
127.50
90.83
Holstein Steers
Slaughter Cows & Bulls
Heifers: Medium/Large Frame #1-2
300-400 lbs
227.00
307.50
254.92
253.91
164.97
400-500 lbs
214.00
266.00
239.23
237.90
154.66
500-600 lbs
190.00
244.00
219.31
221.90
143.02
600-700 lbs
182.00
224.00
205.05
207.70
136.89
Heifers: Small Frame #1-2
300-400 lbs
———
———
———
228.29
139.93
400-500 lbs
170.00
245.00
212.00
210.24
131.24
500-600 lbs
170.00
215.00
202.27
209.18
126.10
600-700 lbs
183.00
202.50
196.58
207.50
116.52
Heifers: Medium/Large Frame #3
300-400 lbs
210.00
265.00
233.21
231.46
145.15
400-500 lbs
196.00
245.00
218.54
217.22
139.20
500-600 lbs
172.50
221.00
199.78
201.28
129.02
600-700 lbs
165.00
202.50
186.73
192.30
124.19
Cattle Receipts (# sales): This week: 6,138 (11)
Week ago: 10,100 (12)
7
Year ago: 7,700 (10)
Tennessee 500-600 lbs. M-1 Steer Prices
Tennessee 700-800 lbs. M-1 Steer Prices
20 13, 2014 and 5-year average
2013, 2014 and 5-year average
260
240
220
200
180
160
140
120
100
220
200
180
160
140
120
100
80
2008/2012 Avg
2013
2014
200 8/20 12 Avg
201 3
201 4
5-Area Finished Cattle Prices
Tennessee Slaughter Cow Prices
2013, 2014 and 5-year average
Breakers 75-80%
2013, 2014 and 5-year ave rage
175
165
155
145
135
125
115
105
95
85
115
105
95
85
75
65
55
45
35
2008/2012 Avg
2013
200 8/20 12 Avg
2014
201 3
201 4
Prices Paid to Farmers by Elevators
Friday, November 14, 2014 — Thursday, November 20, 2014
Friday
Low
High
Monday
Low
Tuesday
High
Low
High
Wednesday
Low
High
Thursday
Low
High
————–-——–——————————————— $/bushel ———————————————————–———
No. 2 Yellow Soybeans
Memphis
10.57-10.62
10.71-10.71
10.58-10.58
10.39-10.39
10.55-10.60
N.W. B.P.
10.51-10.56
10.56-10.61
10.43-10.48
10.27-10.30
10.46-10.51
N.W. TN
10.07-10.18
10.21-10.31
10.08-10.18
9.89-10.00
10.05-10.16
Upper Md.
10.11-10.27
10.11-10.40
10.28-10.28
9.87-10.09
10.03-10.25
Lower Md.
10.06-10.28
10.06-10.46
10.06-10.33
9.90-10.15
10.06-10.31
Memphis
3.91-4.01
3.92-3.97
3.87-3.92
3.78-3.83
3.88-3.98
N.W. B.P.
3.92-3.96
3.88-3.90
3.82-3.84
3.73-3.77
3.83-3.87
N.W. TN
3.36-3.62
3.32-3.58
3.26-3.52
3.17-3.43
3.27-3.53
Upper Md.
3.56-3.59
3.48-3.53
3.42-3.47
3.33-3.38
3.43-3.48
Lower Md.
3.67-3.82
3.78-4.08
3.72-4.02
3.63-3.93
3.73-4.03
5.15-5.15
5.06-5.06
5.04-5.04
4.92-4.92
5.02-5.02
Yellow Corn
Wheat
Memphis
8
Video Sales
Video Board Sales and Graded Sales
EAST TENNESSEE LIVESTOCK CENTER - Nov. 19, 2014
1 load out of 64 steers; est. wt. 835 lbs., wt. range 775 to 875
lbs.; Slide: $0.04 on first 50 lbs., over 51 lbs. $0.06 back to first
lb. over 836 lbs.; 95% L&M-1s, 5% L&M-2s; medium flesh; 75%
Black/BWF, 20% Chax/Smoky, 5% Red/RWF; Feed: pasture plus
hay with self-feeder, receiving corn gluten/soyhull mix for last
six weeks; vaccinated; dewormed; gathered early a.m., hauled
8 miles to scales, weigh on grounds after sort; 2% shrink
$223.50
11/19/14 Warren County Livestock
Receipts: 1,180 (Prices for Blk, BWF, CharX)
HARDIN COUNTY STOCKYARD - Nov. 19, 2014
1 load of 67 steers, avg. wt. 731 lbs., $239.00
BLUEGRASS STOCKYARDS—Nov. 11, 2014
2 loads of 124 bbwf-mixed steers, avg. wt. 800 lbs., $228.00
1 load of 58 bwwf-chax/red steers, avg. wt. 840 lbs., $222.00
1 load of 55 HolsteinX steers, avg. wt. 970 lbs., $141.00
3 loads of 150 Holstein steers, avg. wt. 980 lbs., $169.50
Video Board Sales and Grades Sales
11/19/14 Browning Livestock Market, Lafayette TN
Feeder cattle sale
Next sale Dec 3, 2014
Value added = Weaned, Vaccinated or Both.
Receipts: 2,051 Total Feeders 1,755
Steers: Med & Lg 1-2
200-300 lbs 326.00-343.00
300-350 lbs 331.00
350-400 lbs 310.00
450-500 lbs 268.50-283.50
500-550 lbs 258.00-265.50
550-600 lbs 241.00-244.50
600-700 lbs 231.50-235.50
Heifers: Med & Lg 1
300-350 lbs 262.00-270.00
350-400 lbs 262.00-269.00
400-450 lbs 261.00-267.00
450-500 lbs 253.00-256.00
500-550 lbs 226.00-236.00
550-600 lbs 220.00-237.00
600-700 lbs 210.50-221.00
700-850 lbs 199.00-204.50
850 and over 165.00-177.00
Steers: Med & Lg 2
300-350 lbs 292.00
350-400 lbs 301.00
400-450 lbs 265.00-285.00
450-500 lbs 266.00-287.50
500-600 lbs 246.00-256.00
600-700 lbs 217.50-225.00
700-850 lbs 211.50-222.50
900-950 lbs 177.00-199.00
Heifers: Med & Lg 2
300-350 lbs 226.00
350-400 lbs 237.00-258.00
400-450 lbs 208.00-260.00
450-500 lbs 225.50-241.00
500-600 lbs 210.50-220.50
600-700 lbs 195.50-213.00
700-850 lbs 206.00-209.00
850 and over 171.00
Bulls: Med & Lg 1-2
300-400 lbs 285.00-300.00
400-500 lbs 292.00-300.00
500-600 lbs 251.00-255.00
600-700 lbs 214.00-231.00
700-800 lbs 162.00-196.50
Heifers: Med & Lg 1-2
200-300 lbs 268.00-276.00
300-350 lbs 262.00
350-400 lbs 262.00-267.50
450-500 lbs 249.00-253.50
500-550 lbs 232.50-239.50
550-600 lbs 218.00-220.00
600-700 lbs 208.50-210.00
11/18/14 Tennessee Livestock Producers - Fayetteville
Receipts: 429 (215 graded and grouped)
Steers: Med & Lg 1-2
300-400 lbs 298.00-302.00
400-450 lbs 281.00-294.00
450-500 lbs 256.00-277.00
500-600 lbs 244.00-258.00
600-700 lbs 220.00-238.00
700-800 lbs 220.00-225.50
800-900 lbs 217.50
Bulls: Med & Lg 1-2
350-400 lbs 295.00-312.00
450-500 lbs 265.50-281.75
500-550 lbs 243.00-257.50
550-600 lbs 230.00-233.25
600-700 lbs 218.00-225.25
700-800 lbs 193.00
800-900 lbs
Steers:
Value Added Med & Lg 1-2
500-550 lbs 258.00-271.00
550-600 lbs 246.00-247.00
600-700 lbs 230.00-246.00
700-800 lbs 219.00-230.00
800-900 lbs 207.00-221.00
Steers: Med & Lg 1
300-350 lbs
350-400 lbs 315.00-316.00
400-450 lbs 298.00-302.00
450-500 lbs 287.00-291.00
500-550 lbs 274.00-280.00
550-600 lbs 259.00-266.50
600-700 lbs 230.00-237.50
700-850 lbs 214.50-224.25
850 and over 175.00-178.50
Heifers: Med & Lg 1-2
300-400 lbs 242.00-248.00
400-450 lbs 244.00-250.00
450-500 lbs 237.00-242.00
500-600 lbs 210.00-233.00
600-700 lbs 200.00-206.00
700-800 lbs 192.00
Bulls: Med & Lg 1-2
400-500 lbs 250.00-290.00
500-600 lbs 229.50-252.00
600-700 lbs 201.00-225.00
700-800 lbs 195.00
Heifers:
Value Added Med & Lg 1-2
500-550 lbs 232.00-241.00
550-600 lbs 224.00-238.50
600-700 lbs 214.25-215.50
700-800 lbs 202.50-212.50
800-900 lbs 177.00-185.00
11/14/14 East Tennessee Livestock Feeder Sale
Receipts: 684
11/13/14 Athens Stockyard Holstein Steer Sale
Receipts: 729
For complete reports:
http://www.ams.usda.gov/mnreports/nv_ls180.txt
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Beef Industry News
Tennessee Sheep and Goat Auction
Featured Article from USDA Economic Research Service
U.S. Cattle Dressed Weighted Reach Record Levels
11/10/14 Tennessee Livestock Producers Graded Goat and
Sheep Sale, Columbia, TN
Receipts: 423 (253 Goats; 170 Sheep) Last Sale 547
Next Sale Nov 24, 2014. (2nd & 4th Monday of each month)
Goats sold per hundred weight (cwt) unless otherwise noted,
weights, actual or estimated.
Slaughter Classes: Kids
Selection 1
25-35 lbs
36-50 lbs
51-65 lbs 208.00-215.00
66-80 lbs
The average weight of cattle slaughtered in the United States is
increasing in 2014, as rising prices for cattle and beef, coupled
with declining feed costs, have induced growers to feed cattle
for longer periods. The average dressed weight—the weight of
the carcass minus feet, head, hide, and organs—of U.S. slaughtered cattle has been increasing in recent years, but rose sharply from 799 lbs/head to 822 lbs/head between September 2013
and September 2014. U.S. cattle and beef prices have set a
number of successive record highs since mid-2013 because of
declining cattle inventories resulting from drought-degraded
pasture and forage conditions during 2010-12. With improved
weather, cow-calf operators appear to be rebuilding herds by
retaining heifers for breeding, adding upward pressure to cattle
prices. Lower feed prices resulting from record U.S. corn and
soybean crops are creating incentives to feed animals to higher
weights. Also, as a direct result of placing fewer heifers in feed
lots, there is a larger proportion of steers—which typically
weigh more than heifers—in the slaughter mix, contributing to
heavier average weights. Find additional analysis in Livestock,
Dairy, and Poultry Outlook: November 2014.
Selection 2
25-35 lbs 249.00
36-50 lbs 194.00-240.00
51-65 lbs 188.00-205.00
66-80 lbs 166.00-179.00
Selection 3
25-35 lbs 212.00-240.00
36-50 lbs 191.00-227.00
51-65 lbs 188.00-240.00
66-80 lbs 143.00
Slaughter Bucks/Billies 74.00-124.00
Slaughter Nannies/Does 84.00-114.00
Kids Feeders Selection 3
24-50 lbs 203.00-245.00
SHEEP:
Slaughter Lambs-Includes all breeds, sold per hundred weight (cwt).
Choice and Prime 40-60 lbs
202.00-209.00
Good
181.00-185.00
Choice and Prime 61-80 lbs
191.00-193.00
Good
186.00
Choice and Prime 81-100 lbs
172.00-185.00
Good
161.00
Choice and Prime 100-120 lbs
148.00-166.00
Slaughter Ewes Utility and Good:
All wgts 87.00-89.00
Slaughter Rams:
All Wgts 79.00-111.00
University of Tennessee Extension
Department of Agricultural and Resource Economics
314 Morgan Hall • 2621 Morgan Circle
http://economics.ag.utk.edu/
http://economics.ag.utk.edu/curmkt.html
USDA / Tennessee Department of Agriculture Market News Service
http://www.tennessee.gov/agriculture/marketing/marketnews.html
1-800-342-8206
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