1. No category

Tennessee Market Highlights
Trends for the Week
Compared to a Week Ago
Slaughter Cows
Mostly steady to $2 higher
Slaughter Bulls
Mostly steady to $2 higher
Feeder Steers
$3 to $8 lower
Feeder Heifers
$3 to $4 lower
Feeder Cattle Index
Wednesday’s index: 217.63
Fed Cattle
The 5-area live price of $163.98 is up
$2.48. The dressed price is up $4.72
at $260.00.
Corn
May closed at $3.91 a bushel, up 6
cents a bushel since last Friday.
Soybeans
May closed at $9.67 a bushel, down
6 cents a bushel since last Friday.
Wheat
May closed at $5.07 a bushel, down
23 cents a bushel since last Friday.
Cotton
May closed at 63.55 cents per lb, up
0.73 cents per lb since last Friday.
March 27, 2015
Number: 13
Livestock Comments by Dr. Andrew P. Griffith
FED CATTLE: Fed cattle trade was not well
established at time of publishing. Bid prices
on a live basis were $160 to $162 while ask
prices were $165 to $166. A stronger market is expected. The 5-area weighted average prices thru Thursday were $163.98 live,
up $2.48 from last week and $260.00
dressed, up $4.72 from a week ago. A year
ago prices were $152.26 live and $243.48
dressed. Cattle feeders continue to hold out
for higher prices as April live cattle futures
traded more than $4 higher than last Friday
and have increased more than $9 in the
past two weeks. The increase in futures
prices have fueled the fire for continued
strength in the live cattle market. Packers
on the other hand have little interest in
purchasing cattle at such levels. Though
packers seem steadfast in toeing the line
and moderating fed cattle prices, all indications are for the market to continue
strengthening and further eroding packer
margins. Cattle feeders will maintain leverage over packers at a minimum until late
spring or early summer which may provide
cattle feeders an opportunity to make a
little profit.
BEEF CUTOUT: At midday Friday, the
Choice cutout was $250.43 down $0.24
from Thursday and up $6.05 from last Friday. The Select cutout was $246.62 down
$0.34 from Thursday and up $2.04 from last
Friday. The Choice Select spread was $3.81
compared to -$0.18 a week ago. Packers
continue to closely monitor chain speeds to
manage beef cutout prices. They have again
slowed chain speeds to a crawl as margins
are being squeezed because of increasing
fed cattle prices. Thus, their only recourse
to capture margins is to try to push cutout
prices higher. There is some indication that
cutout prices may make a run this spring as
retailers and food service participants begin
making purchases for the summer grilling
season, but the magnitude of such a run is
extremely uncertain. Consumers seek
Choice quality middle meats for summer
grilling purposes, but some consumers have
been forced to trade down to ground beef
or competing proteins. Consumers will continue to face record beef prices while pork
and poultry prices will remain low relative
to the price of beef. Demand for beef was
strong throughout 2014, and there is no
indication 2015 should be much different.
Consumers will vote with their dollar just as
they have always done. Beef demand in
2015 may shed some additional light on
consumers’ devotion to beef.
TENNESSEE AUCTIONS: On Tennessee auctions this week compared to a week ago
feeder steers were $3 to $8 lower while
feeder bulls steady to $2 higher. Heifers
were $3 to $4 lower. Slaughter cows and
bulls were mostly steady to $2 higher. Average receipts per sale were 1,177 head on 9
sales compared to 944 head on 9 sales last
week and 700 head on 12 sales last year.
OUTLOOK: Auction market activity continued to pick up this week as several days of
warm and precipitation free weather
spurred producers to gather calves and ship
them to town. Cattle buyers were prepared
for the rush with cash in hand and pastures
ready to receive lightweight calves. The
past couple of weeks have provided many
stocker cattle producers the opportunity to
secure grazing inventory for the spring and
summer. Though many producers would
have liked to have purchased calves several
weeks earlier, they now have a few animals
to begin harvesting early forage production.
The expectation of favorable weather conditions for moving cattle next week should
continue to support spring calf marketings
in the short term. The question now is if the
market has already experienced its spring
peak in lightweight calf prices. Steers
weighing 525 pounds lost $6 per hundredweight from the previous week while 625
pound steers fell $5 per hundredweight.
Similarly, heifers weighing 525 and 625
(Continued on page 2)
Livestock Comments by Dr. Andrew Griffith
then $150.15. Resistance is at $152.70 then $153.97. The RSI is
63.59. August live cattle closed at $149.05. Support is at
$149.00, then $148.10. Resistance is at $149.60, then $150.33.
The RSI is 62.22. April feeders closed at $217.36. Support is at
$215.87, then $213.02. Resistance is at $218.72 then $221.57.
The RSI is 64.77. May feeders closed at $215.78. Support is at
$215.00, then $213.43. Resistance is at $216.13 then $217.55.
The RSI is 62.72. August feeders closed at $217.20. Support is at
$216.50, then $216.08. Resistance is at $217.75 then $219.25.
The RSI is 62.85. Friday’s closing prices were as follows: Live/fed
cattle – April $162.63 +0.95; June $152.98 +0.98; August
$149.95 +0.90; Feeder cattle - April $219.28 +2.05; May
$218.13 +2.35; August $219.23 +2.03; September $218.10
+1.83. May corn closed at $3.91 down $0.01 from Thursday.
(Continued from page 1)
pounds fell $3 and $4 per hundredweight respectively. It may
be likely that the spring calf market has peaked. The seasonal
tendency for 500 to 600 pound steers is for prices to peak in
March to early April and then decline throughout the year.
Based on the last ten years of price data in Tennessee, 500 to
600 pound steers generally experience a 13 percent price decline from March to November which could result in 525 pound
steers falling to $235 per hundredweight. Same weight heifers
on the other hand generally experience their price peak in April
or May and then fall off about 13 percent by November. If heifer prices have already reached their apex then that may put
500 to 600 pound heifer prices near $206 per hundredweight.
The use of seasonal price trends alone is not a sufficient means
of determining future prices. However, cattle prices have strong
seasonal influences from the standpoint of seasonal supply and
demand of calves, feeder cattle, fed cattle and beef. The supply
and demand tendencies along with external factors greatly influence prices paid and received.
Milk Futures
Month
Mar
Apr
May
Jun
Jul
TECHNICALLY SPEAKING: Based on Thursday’s closing prices,
April live cattle closed at $161.68. Support is at $161.02, then
$159.77. Resistance is at $162.27, then $163.52. The RSI is
66.39. June live cattle closed at $152.00. Support is at $151.43,
Average Daily Slaughter
Thursday March 26, 2015
Class III Close Class IV Close
15.53
13.93
15.50
13.83
15.30
14.20
15.45
14.40
15.94
15.00
USDA Box Beef Cutout Value
Cattle
Hogs
Choice 1-3
600-900 lbs
———— Number of head ————
This week (4 days)
104,750
Last week (4 days)
107,500
Year ago (4 days)
117,500
This week as percentage of
Week ago (%)
97%
Year ago (%)
89%
433,250
430,500
412,000
Select 1-3
600-900 lbs
———————— $/cwt —-———————
Thursday
Last Week
Year ago
Change from week ago
Change from year ago
101%
105%
250.67
246.61
241.76
+4.06
+8.91
246.96
244.79
233.31
+2.17
+13.65
Crop Comments by Dr. Aaron Smith
Overview
Corn and cotton were up; soybeans and wheat were down for the week. This
week corn futures prices strengthened relative to soybeans. Currently, the
nearby soybean to corn futures price ratio is 2.47; compared to a harvest
price ratio of 2.33. The harvest price ratio has the potential to further decrease if, on March 31st, the USDA planted acreage estimates contain more
than expected planted acres of soybeans and less than expected planted acres of corn. Of course the potential exists for the USDA
to provide a surprise on Tuesday. Tennessee producers may be interested in the current cash forward contract soybean to corn
price ratios. As of Thursday, the harvest soybean to corn price ratios were reported as 2.38, 2.44, 2.29, 2.39, and 2.37 in the five
reporting regions (Northwest, Upper-middle, Lower-middle, Northwest Barge Points, and Memphis). In addition to price ratios
amongst commodities, producers should also be considering their expected individual farm yields and input costs by commodity
when finalizing their planting decisions.
Today, the USDA announced the deadline for producers and/or landowners to make their yield update, base acre reallocation, and
commodity program decisions (ARC-CO/ARC-I/PLC) was extended one week, to April 7, 2015. Producers and landowners that have
not made decisions should take advantage of the deadline extension and contact their local FSA office to sign up. Producers and
2
Crop Comments by Dr. Aaron Smith
landowners who have made decisions should take this opportunity to reevaluate their decisions, using the most recent price and
yield data, and make any changes deemed necessary before April 7th. Note: The USDA will release their Prospective Plantings and
Quarterly Grain Stocks reports on March 31st so it may be prudent to wait until April 1st to reevaluate the current price environment as these reports can provide significant market movements.
Corn
May 2015 corn futures closed at $3.91 up 6 cents a bushel since last week. Across Tennessee average basis (cash price- nearby future price) remained unchanged at Northwest Barge Points, Memphis, Lower-middle, and Upper-middle Tennessee and weakened
in Northwest Tennessee. Overall average basis for the week ranged from 10 under to 25 over the May futures contract with an
average of 12 over at the end of the week. Ethanol production for the week ending March 20th was 953,000 barrels per day up
6,000 barrels per day from last week. Ending ethanol stocks were 21.317 million barrels up 497,000 barrels from last week. This
week May 2015 corn futures prices traded between $3.85 and $3.97. May/Jul and May/Sep future spreads were 8 cents and 15
cents, respectively.
July 2015 corn futures closed at $3.99 up 7 cents from last week. Corn net sales reported by exporters March 13th to 19th were
within expectations with net sales of 17.1 million bushels for the 2014/15 marketing year and 1.1 million bushels for the 2015/16
marketing year. Exports for the same time period were up from last week at 42 million bushels. Corn export sales and commitments were 81% 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 81%. September 2015 cash forward contracts averaged $4.00 with a range of $3.74 to $4.28. September 2015 futures closed at $4.06 up 6 cents from last week. Downside price protection could be obtained by purchasing a $4.10
September 2015 Put Option costing 32 cents establishing a $3.78 futures floor.
Soybeans
May 2015 soybean futures closed at $9.67 down 6 cents since last week. May soybean to corn price ratio was 2.47 at the end of
the week. For the week, average soybean basis strengthened or remained unchanged at Memphis, Northwest Barge Points, Uppermiddle, and Lower-middle Tennessee and weakened in Northwest Tennessee. Basis ranged from 18 under to 34 over the May futures contract at elevators and barge points. Average basis at the end of the week was 18 over the May futures contract. This week
May 2015 soybean futures traded between $9.65 and $9.00.
3
(Continued on page 4)
Crop Comments by Dr. Aaron Smith
July 2015 soybean futures closed at $9.72 down 6 cents since last week. Net sales reported by exporters were above expectations
with net sales of 18.6 million bushels for the 2014/15 marketing year and 8.1 million bushels for the 2015/16 marketing year. Exports for the same period were up from last week at 28 million bushels. Soybean export sales and commitments were 100% 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
95%. May/Jul and May/Nov future spreads were 5 cent and -19 cents. October/November 2015 cash forward contracts averaged
$9.47 with a range of $9.25 to $9.70 at elevators and barge points. Nov/Sep 2015 soybean to corn price ratio was 2.33. November
2015 futures closed at $9.48 down 8 cents from last week. Downside price protection could be achieved by purchasing a $9.60 November 2015 Put Option which would cost 63 cents and set an $8.97 futures floor.
Cotton
May 2015 cotton futures closed at 63.55 up 0.73 cents since last week. Cotton adjusted world price (AWP) increased 2.12 cents
from last week to 48.47 cents. May 2015 cotton futures traded between 62.36 and 64.55 cents this week.
July 2015 cotton futures closed at 63.87 up 0.47 cents since last week. Net sales reported by exporters were down from last week
with net sales of 177,600 bales for the 2014/15 marketing year and net sales of 21,000 bales for the 2015/16 marketing year. Exports for the same period were down from last week at 290,300 bales. Upland cotton export sales were 99% 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 96%. May/July and
May/Dec futures spread were 0.32 cents and 1.13 cents. December 2015 cotton futures closed at 64.68 up 0.62 cents since last
week. Downside price protection could be obtained by purchasing a 65 cent December 2015 Put Option costing 4.03 cents establishing a 60.97 cent futures floor.
Wheat
May 2015 wheat futures closed at $5.07 down 23 cents since last week. May wheat futures traded between $4.98 and $5.40 this
week. May wheat to corn price ratio was 1.30. May/July and July/Sept future spreads were 5 cents and 9 cents, respectively. In
Memphis, old crop cash wheat traded between $4.59 and $4.94 last week.
July 2015 wheat futures closed at $5.12 down 21 cents since last week. Net sales reported by exporters were below expectations at
3.8 million bushels for the 2014/15 marketing year and 2.9 million bushels for the 2015/16 marketing year. Exports for the same
period were up from last week at 18.3 million bushels. Wheat export sales were 93% of the USDA estimated total annual exports
(Continued on page 5)
4
Crop Comments by Dr. Aaron Smith
for the 2014/15 marketing year (June 1 to May 31), compared to a 5-year average of 97%. June/July 2015 cash forward contracts
averaged $5.18 with a range of $4.45 to $5.53 at elevators and barge points. Downside price protection could be obtained by purchasing a $5.20 July 2015 Put Option costing 35 cents establishing a $4.85 futures floor.
Farm Bill Update
Important dates for producers/landowners for the 2014 Farm Bill ((Note: Yield Update, Base Acre Reallocation, and ARC/PLC decision was extended until April 7, 2015):
1.
2.
September 29 to April 7. During this period, paperwork dealing with the program yield updating and program base acre reallocation decisions can be completed for each FSA farm.
November 17 to April 7. During this period, paperwork dealing with program choice: Agricultural Risk Coverage - County (ARCCO), 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 [email protected].
Tennessee Sheep and Goat Auction
3/23/15 Tennessee Livestock Producers Graded Goat and Sheep
Sale, Columbia, TN
Receipts: 1,416 (694 Goats; 722 Sheep) Last Sale 525
Next Sale Apr 13, 2015. (2nd and 4th Monday of each month)
Yearlings Selection 2-3
50-130 lbs 157.00-207.50
Slaughter Bucks/Billies
115.00-150.00
Slaughter Nannies/Does
95.00-152.50
Goats sold per hundred weight (cwt) unless otherwise noted,
weights, actual or estimated.
Kids Feeders Selection 3
24-50 lbs 140.00-162.50
Slaughter Classes: Kids
Selection 1
25-35 lbs 227.50-265.00
36-50 lbs 266.00
51-65 lbs 262.50-268.00
66-80 lbs 215.00
81-100 lbs 195.00
SHEEP: Slaughter Lambs-Includes all breeds, sold per hundred
weight (cwt).
Choice and Prime 40-60 lbs
175.00-242.50
Good
146.00
Choice and Prime 61-80 lbs
173.00-175.00
Good 81-100 lbs
150.00-177.50
Choice and Prime 100-120 lbs
140.00
Selection 2
25-35 lbs 180.00
36-50 lbs 182.50-205.00
51-65 lbs 230.00-247.50
66-80 lbs 207.50
Selection 3
25-35 lbs 130.00-165.00
36-50 lbs 120.00-132.00
51-65 lbs 135.00-155.00
66-80 lbs 125.00
Slaughter Ewes Utility and Good: All wgts 60.00-100.00
Slaughter Rams: All Wgts 81.00-109.00
5
Futures Settlement Prices: Crops & Livestock
Friday, March 20, 2015 — Thursday, March 26, 2015
Friday
Monday
Tuesday
9.73
9.83
9.81
9.78
9.88
9.86
9.77
9.86
9.85
9.62
9.71
9.69
9.56
9.65
9.62
9.61
9.69
9.67
Commodity
Soybeans
($/bushel)
Contract Month
May
Jul
Aug
Sep
Nov
Jan
Wednesday
9.78
9.82
9.81
9.64
9.57
9.62
Thursday
9.74
9.78
9.77
9.62
9.55
9.60
Corn
($/bushel)
May
Jul
Sep
Dec
Mar
May
3.85
3.92
4.00
4.09
4.18
4.25
3.90
3.98
4.05
4.14
4.23
4.30
3.93
4.01
4.08
4.17
4.26
4.32
3.95
4.03
4.10
4.18
4.26
4.33
3.91
3.99
4.06
4.14
4.23
4.30
Wheat
($/bushel)
May
Jul
Sep
Dec
Mar
5.30
5.33
5.42
5.56
5.68
5.34
5.38
5.47
5.60
5.72
5.23
5.28
5.37
5.52
5.65
5.19
5.23
5.33
5.48
5.61
4.99
5.04
5.14
5.28
5.42
Soybean Meal
($/ton)
May
Jul
Aug
Sep
Dec
Jan
324
321
320
319
316
316
327
324
323
321
318
318
326
324
322
320
317
317
324
322
321
318
315
315
322
320
319
317
313
314
Cotton
(¢/lb)
May
Jul
Oct
Dec
Mar
62.82
63.40
63.78
64.06
63.99
64.05
64.42
64.66
64.55
64.25
63.91
64.38
64.69
64.70
64.55
63.16
63.68
64.09
64.29
64.16
63.08
63.50
63.99
64.33
64.43
Live Cattle
($/cwt)
Apr
Jun
Aug
Oct
Dec
158.35
150.47
148.10
150.02
150.50
161.35
153.00
150.22
151.82
152.02
162.00
153.05
150.32
152.27
152.45
161.72
152.37
149.60
152.15
152.17
161.67
152.00
149.05
151.25
151.80
Feeder Cattle
($/cwt)
Mar
Apr
May
Aug
Sep
Oct
214.87
216.20
215.40
216.07
215.30
213.70
216.97
219.17
218.67
219.67
218.72
216.92
217.17
218.92
217.87
219.25
218.32
216.65
217.70
217.25
215.97
217.75
217.25
215.17
217.45
217.22
215.77
217.20
216.27
214.37
Market Hogs
($/cwt)
Apr
May
Jun
Jul
Aug
58.45
68.27
73.85
74.52
75.07
59.25
68.67
73.62
74.45
74.77
58.60
66.15
74.67
75.25
76.10
59.82
66.52
74.60
75.15
75.90
60.97
68.02
75.15
75.85
76.65
6
Prices on Tennessee Reported Livestock Auctions for the week ending March 27, 2015
Low
This Week
High
Weighted Average
Last Week
Weighted Average
Year Ago
Weighted Average
—————————————————————— $/cwt ——————————————————————
Steers: Medium/Large Frame #1-2
300-400 lbs
292.00
400.00
327.63
336.79
231.70
400-500 lbs
265.00
325.00
290.58
295.25
217.69
500-600 lbs
222.50
292.50
257.08
262.86
197.65
600-700 lbs
195.00
257.50
228.67
230.77
177.67
700-800 lbs
192.00
222.00
207.32
208.56
164.34
300-400 lbs
220.00
325.00
291.71
304.49
212.40
400-500 lbs
212.50
300.00
263.75
276.40
199.88
500-600 lbs
237.50
260.00
245.16
233.63
171.69
600-700 lbs
———
———
———
213.27
160.45
Steers: Small Frame #1-2
Steers: Medium/Large Frame #3
300-400 lbs
250.00
340.00
301.54
304.71
215.42
400-500 lbs
221.00
300.00
261.56
257.59
194.55
500-600 lbs
185.00
256.00
227.98
241.67
187.05
600-700 lbs
200.00
228.00
213.16
216.47
167.45
700-800 lbs
173.00
195.00
182.70
194.09
144.03
300-400 lbs
185.00
222.50
196.59
———
144.01
500-600 lbs
160.00
198.25
188.93
———
125.23
700-800 lbs
———
———
———
———
———
Breakers 75-80%
100.00
116.50
108.54
107.88
95.88
Boners 80-85%
100.00
118.00
109.51
109.84
96.99
Lean 85-90%
93.00
110.00
100.65
101.55
83.60
Bulls YG 1
124.50
146.00
135.64
135.76
111.89
Holstein Steers
Slaughter Cows & Bulls
Heifers: Medium/Large Frame #1-2
300-400 lbs
224.00
322.50
283.81
288.50
203.90
400-500 lbs
230.00
287.50
255.41
255.71
191.67
500-600 lbs
206.00
252.50
230.90
231.94
178.28
600-700 lbs
184.00
226.00
207.08
205.44
159.91
300-400 lbs
200.00
290.00
251.55
266.20
182.23
400-500 lbs
190.00
260.00
228.47
232.37
168.89
500-600 lbs
180.00
222.50
206.97
208.05
154.22
600-700 lbs
158.00
160.00
159.02
202.18
138.82
Heifers: Small Frame #1-2
Heifers: Medium/Large Frame #3
300-400 lbs
215.00
301.00
256.45
256.88
193.10
400-500 lbs
214.00
262.50
234.50
235.43
178.35
500-600 lbs
174.00
234.00
211.10
212.54
163.87
600-700 lbs
175.00
210.00
193.31
197.90
145.24
Cattle Receipts (# sales): This week: 10,596 (9)
Week ago: 8,500 (9)
7
Year ago: 8,400 (12)
Tennessee 500-600 lbs. M-1 Steer Prices
Tennessee 700-800 lbs. M-1 Steer Prices
2014, 2015 and 5-year average
2014, 2015 and 5-year average
270
250
230
210
190
170
150
130
110
225
205
185
165
145
125
105
85
2009/2013 Avg
2 014
2015
200 9/20 13 Avg
201 4
201 5
5-Area Finished Cattle Prices
Tennessee Slaughter Cow Prices
2014, 2015 and 5-year average
Breakers 75-80%
2014, 2015 and 5-year average
175
165
155
145
135
125
115
105
95
85
115
105
95
85
75
65
55
45
35
2009/2013 Avg
2014
200 9/20 13 Avg
2015
201 4
201 5
Prices Paid to Farmers by Elevators
Friday, March 20, 2015 — Thursday, March 26, 2015
Friday
Low
High
Monday
Low
Tuesday
High
Low
High
Wednesday
Low
High
Thursday
Low
High
————–-——–——————————————— $/bushel ———————————————————–———
No. 2 Yellow Soybeans
Memphis
9.98-9.98
10.08-10.08
10.06-10.06
10.03-10.08
9.99-10.04
N.W. B.P.
9.93-9.98
10.03-10.08
10.01-10.06
9.99-10.04
9.94-10.05
N.W. TN
9.73-9.80
9.83-9.89
9.80-9.81
9.78-9.78
9.70-9.74
Upper Md.
9.93-9.93
10.03-10.03
10.01-10.01
9.81-9.98
9.94-10.09
Lower Md.
9.56-9.94
9.65-10.04
9.71-10.02
9.99-9.99
9.64-9.95
Memphis
4.00-4.15
4.05-4.12
4.08-4.15
4.10-4.17
4.06-4.13
N.W. B.P.
4.00-4.05
4.05-4.10
4.08-4.13
4.10-4.15
4.06-4.11
N.W. TN
3.76-3.85
3.77-3.90
3.77-3.93
3.77-3.95
3.77-3.91
Upper Md.
3.85-3.95
3.90-4.00
3.93-4.03
3.85-3.95
3.91-4.01
Lower Md.
4.10-4.10
4.15-4.15
4.18-4.18
4.20-4.20
4.16-4.16
4.90-4.90
4.94-4.94
4.83-4.83
4.79-4.79
4.59-4.59
Yellow Corn
Wheat
Memphis
8
Video Sales
Tennessee Self-Reported and Self-Graded Livestock Markets
EAST TENNESSEE LIVESTOCK CENTER - March 25, 2015
1 load out of 77 steers; BQA certified producer; est. wt. 800 lbs.,
wt. range 750 to 850 lbs.; Slide: $0.05 on first 50 lbs., over 51 lbs.
$0.07 back to first lb. over 801 lbs.; 95% L&M-1s, 5% L&M-2s; medium flesh; 100% Black/BWF; Feed: on pasture plus hay receiving
corn gluten/corn silage mix; vaccinated twice; dewormed; gathered early a.m., hauled 20 miles, weighed on grounds after sort;
1% shrink $206.85
3/24/15 Tennessee Livestock Producers - Fayetteville
Receipts: 714 (299 graded and grouped)
Steers: Med & Lg 1-2
300-400 lbs 300.00-330.00
400-500 lbs 270.00-305.00
500-600 lbs 246.00-285.00
600-700 lbs 225.50-256.00
700-800 lbs 200.00-223.50
1 load out of 75 heifers; BQA certified producer; est. wt. 700 lbs.,
wt. range 625 to 750 lbs.; Slide: $0.05 on first 50 lbs., over 51 lbs.
$0.07 back to first lb. over 701 lbs.; 90% M-1s, 10% M-2s; medium
flesh; 85% Black/BWF, 8% Chax/Smoky, 7% Red/RWF; Feed: on
pasture plus hay receiving corn silage/ground hay/ground ear corn
mix last 60 days; vaccinated twice; dewormed; gathered early
a.m., hauled 1 mile, weighed on grounds after sort; 2% shrink
$196.75
Bulls: Med & Lg 1-2
400-500 lbs 275.00-284.50
500-600 lbs 232.00-256.00
600-700 lbs 185.00-210.00
3/23/15 KY/TN Livestock Cross Plains
Receipts: 400 (302 graded)
DICKSON LIVESTOCK - March 23, 2015
1 load of 77 heifers; avg. wt. 637 lbs.; $212.00
1 load of 70 heifers; avg. wt. 728 lbs.; $198.00
HARDIN COUNTY STOCKYARD - March 23, 2015
1 load of 53 steers; avg. wt. 930 lbs.; $188.50
2 loads of 100 steers; avg. wt. 986 lbs.; $186.50
BLUE GRASS STOCKYARDS—March 24, 2015
2 loads of 120 bbwf-smokes steers; avg. wt. 840 lbs.; $204.75
1 load of mixed #2 steers; avg. wt. 870 lbs.; $191.00
1 load of Holstein steers; avg. wt. 980 lbs.; $162.00
Video Board Sales and Grades Sales
3/20/15 East Tennessee Livestock Feeder Sale
Receipts: 870
Steers: Med & Lg 1
350-400 lbs 290.00-302.00
400-450 lbs 309.00-317.00
450-500 lbs 282.00-291.00
500-550 lbs 256.00-289.00
550-600 lbs 243.00-249.50
600-700 lbs 215.00-229.00
700-800 lbs 194.50-203.00
800-900 lbs 188.00
Heifers: Med & Lg 1
400-450 lbs 252.50
450-500 lbs 237.50
500-550 lbs 214.00-227.00
550-600 lbs 216.00-218.00
600-700 lbs 200.00-215.50
700-800 lbs 175.00-182.50
800-900 lbs 172.50-175.00
Steers: Med & Lg 2
350-400 lbs 290.00-292.00
400-450 lbs 251.00-252.00
450-500 lbs 229.00-271.00
500-550 lbs 250.00-253.00
550-600 lbs 227.00
600-700 lbs 207.00-222.00
700-800 lbs 189.00
800-900 lbs 175.00
Heifers: Med & Lg 2
400-500 lbs 221.00-237.00
500-600 lbs 191.00-205.00
600-700 lbs 198.00-206.00
700-800 lbs 168.00
Heifers: Med & Lg 1-2
300-400 lbs 277.50-297.50
400-500 lbs 243.00-258.00
500-600 lbs 219.00-236.00
600-700 lbs 194.00-225.50
700-800 lbs 180.00-190.00
Steers: Med & Lg 1-2
400-450 lbs 285.00-301.00
550-600 lbs 244.00
600-700 lbs 226.00-228.00
700-800 lbs 205.00
Heifers: Med & Lg 1
300-350 lbs 292.00-297.00
350-400 lbs 256.00-288.00
400-450 lbs 243.00-256.00
450-500 lbs 255.00
500-550 lbs 227.00-232.00
550-600 lbs 215.00-227.00
600-700 lbs 203.00
800-900 lbs 176.00
Bulls: Med & Lg 1-2
300-350 lbs 328.00-330.00
350-400 lbs 295.00-320.00
400-450 lbs 239.00-301.00
450-500 lbs 251.00-281.00
500-550 lbs 240.00-250.00
550-600 lbs 218.00-245.00
600-700 lbs 214.00-225.00
700-800 lbs 186.00-198.00
800-900 lbs 149.00
Heifers: Med & Lg 2
300-350 lbs 292.00
350-400 lbs 266.00-285.00
400-450 lbs 231.00-251.00
450-500 lbs 250.00
500-550 lbs 209.00-229.00
550-600 lbs 214.00-221.00
600-700 lbs 201.00
3/19/15 Farmers Auction Company, Fayetteville, TN
Receipts: 484
Prices reflect large quantity of weaned and vaccinated cattle.
Steers: Med & Lg 1-2
350-400 lbs 315.50-321.00
400-450 lbs 298.00-305.00
450-500 lbs 258.00-272.00
500-550 lbs 249.25-251.00
550-600 lbs 235.00-244.50
600-700 lbs 221.00-223.50
700-800 lbs 201.00-218.50
800-900 lbs 191.00
Heifers: Med & Lg 1-2
300-350 lbs 280.00
350-400 lbs 262.50-265.00
400-450 lbs 230.00-247.50
450-500 lbs 239.00-245.00
500-550 lbs 222.00-238.00
550-600 lbs 221.00-232.00
600-700 lbs 205.50-222.00
700-800 lbs 176.00-200.00
Bulls: Med & Lg 1-2
300-350 lbs 305.00-315.00
350-400 lbs 282.50-296.00
400-450 lbs 269.00-280.00
450-500 lbs 261.00-270.00
(Continued on page 10)
9
Beef Industry News - Featured Article from DROVERS CattleNetwork
Limp exports, supply surge fuel record
U.S. February pork, beef stocks
ments totaled 162.7 million pounds, a 19.3 percent drop from
the year before.
U.S. pork and beef inventories in February hit record highs for
the month, showing ongoing export challenges compounded by
ramped up hog production, analysts said following the Department of Agriculture's latest monthly cold storage report.
The additional pork comes as processors moved hams into cold
storage facilities for the Easter holiday season, while stockpiling
pork chops and bacon ahead of outdoor cookouts and the summer's popular bacon-lettuce and tomato sandwich season.
Excess meat supply means grocers will have to significantly cut
product prices to consumers for the coming spring grilling season, said Chicago-based Allendale Inc chief strategist Rich Nelson.
Monday's USDA monthly cold storage report showed February
pork inventories totaled 686.1 million pounds, which surpassed
the February 2014 record of 654.7 million pounds.
Last month's beef stocks totaled 492.1 million pounds, topping
January 2015's 491.9-million-pound record as well as the previous February 2013 high of 489.978 million pounds.
Beef stocks posted a record in February, but it was a marginal
increase compared to the 90-million-pound addition of pork
into storage, which was twice as much as the previous record
inflow for February, said Nelson.
For pork, he said that vaccines and increased biosecurity
measures offset the impact of the deadly Porcine Epidemic
Diarrhea virus (PEDv), which brought roughly 6 percent more
heavyweight hogs to market in February than anticipated and
produced 6.6 percent more pork.
Even though the U.S. West Coast dock workers' dispute was
settled last month, shipments of pork - the most exported U.S.
meat - are still backed up there and competing with domestic
product.
"We expected January to be a difficult month, so these results
are not especially surprising," U.S. Meat Export Federation CEO
Phil Seng said recently regarding the slowdown in exports.
Tennessee Self-Reported and Self-Graded Livestock Markets
500-550 lbs 250.00-252.50
550-600 lbs 236.00-240.00
600-700 lbs 206.00-210.00
3/19/15 Woodbury Livestock Market
Receipts: 241
Steers: Med & Lg 1-2
300-350 lbs 325.00-340.00*
350-400 lbs 315.00-316.00*
400-450 lbs 266.00
450-500 lbs 266.50
500-550 lbs 265.00*-284.50*
550-600 lbs 252.00
600-700 lbs 219.00-230.50*
700-800 lbs 198.00*
* indicates weaned
Heifers: Med & Lg 1-2
300-350 lbs 270.00-295.00*
350-400 lbs 266.00-270.00*
400-450 lbs 260.00-270.50*
450-500 lbs 250.00-255.00*
500-550 lbs 230.00
550-600 lbs 215.00-230.00*
600-700 lbs 195.00-210.00*
Bulls: Med & Lg 1-2
350-400 lbs 312.50
400-450 lbs 264.00
450-500 lbs 266.00
500-550 lbs 245.00
550-600 lbs 225.00
600-700 lbs 211.00-217.50
Furthermore, analysts have noted the strengthening dollar has
so far this year made U.S. goods, including pork and beef, less
attractive to foreign buyers.
USDA's latest data showed pork exports for January at 347.7
million pounds, down 21.4 percent from a year ago. Beef ship-
Department of Agricultural and Resource Economics
314 Morgan Hall • 2621 Morgan Circle
http://economics.ag.utk.edu/
USDA / Tennessee Department of Agriculture Market News Service
http://economics.ag.utk.edu/curmkt.html
http://www.tennessee.gov/agriculture/marketing/marketnews.html
10
1-800-342-8206