June 6, 2016

 
 
 
 

Monday Memo

 
 
 
 

Cattle Market Notes 
Dr. Brian Williams​
Week ending June 10, 2016

Cash Cattle:
Cash traded fed cattle were mixed this week. The five-area fed steer price for the week of June 2-June 9 averaged $126.81 for live sales, and $202.87 for dressed; respectively, up $3.99 and up $1.55. Total volume sold was up 71,000 head from a week ago and up 49,000 head from last year.
Feeder steer cattle and calves were steady to slightly lower across the U.S. this week. Oklahoma City 500-550 pound steers were averaging $170.32 while heavier 750-800 pound steers were averaging $146.01. The rain last week was much needed with Mississippi pasture conditions 64% rated good or excellent, unchanged from a week ago.  In Mississippi auctions, lighter weight feeders weighing 450-500 pounds were unchanged from a week ago, averaging $155.00, while heavy steers were averaging $120.00, down $6.50 from last week.

Futures:
Live cattle futures and feeder futures were mostly lower this week. June live cattle were up $0.17 on the week and $30.23 lower than a year ago at $122.23, while August live cattle were down $0.38 from last week and down $33.28 from a year ago. Feeder cattle mostly lower this week with August futures down $1.47 from last Friday and down $78.18 from a year ago at $145.28 while October futures are down $1.10 on the week. Nearby corn futures are up $0.05 from a week ago at $4.24 while September futures are also up $0.08.

Beef:
Wholesale boxed beef prices are higher compared to a week ago. Choice boxes averaged $225.60, up $3.20 from a week ago and $20.78 lower than a year ago. Select boxes ended the week with an average of $201.79, up $1.21 from last week. The choice-select spread widened from $21.82 a week ago to $23.81 this week, which continues the trend of some of the widest spreads in more than 10 years.
 
 
 
 
 

CITRUS-MARINATED BEEF & FRUIT KABOBS


Total Recipe Time: 40 to 45 minutes
Makes 4 servings
 
 
 
 
 


June
13-15 - MJCA Making Tracks, Starkville 
17 Clay Co. Forage Field Day, West Point
 
 
 
 
 
MCA Online!
You can pay your MCA dues online. MCA is looking out for cattle producers in Mississippi. MCA monitors the legislative and regulatory activity in Jackson and Washington, D.C. We're working every day to influence producer legislation in a manner that benefits cattle producers. Click here to learn more.
 
 
 
 
 
Need A New Tag?
Show your MCA support by purchasing a colored beef tag for the front of your vehicle. These metal tags can be purchased for $12. Call the MCA office for more details.
 
 
 
 
Beef Production in 2017 Lowered
 
 
 
The forecast for total red meat and poultry production in 2016 and 2017 is lowered from last month, largely as higher feed prices dampen the rate of production growth. Beef production for 2016 is reduced mostly on lower carcass weights, but the pace of second-quarter slaughter is slightly slower than previously expected. Production in 2017 is reduced on slightly lower carcass weights as higher feed prices are expected to encourage cattle feeders to minimize the amount of time cattle are on feed.
Forecasts for 2016 and 2017 beef imports are unchanged from last month; the export forecast is reduced slightly on the pace of trade to date. No change is made to pork imports or exports for 2016 or 2017. Broiler and turkey export forecasts are unchanged as well.
Cattle prices for 2016 are raised from last month on prices to date, but the forecast for 2017 is unchanged. Likewise, hog prices are higher in 2016 but unchanged for 2017. Broiler prices are raised for both 2016 and 2017 as domestic demand has strengthened and the rate of production growth has slowed. Turkey prices are raised for 2016, but unchanged for 2017. Although the rate of production growth is slowed, the recovery in demand has been weaker than expected. Egg prices are reduced from last month on continued weakness in demand. Milk production forecasts for 2016 and 2017 are raised from last month as recently reported cow numbers indicate the herd continues to expand. No change is made to output per cow.
 
 
 
 
 
Murry Attends YCC
Mike Murry of Jones County attended NCBA's Young Cattlemen's Conference last week. The group of 62 young cattlemen from across the U.S. started their tour in Denver and crossed the country with stops in Kansas, Chicago, and wrapping up the week in Washington, D.C. While in the Washington the attendees had issues briefing and visits with elected officials. Mike visited with Senator Thad Cochran and other members of Mississippi's delegation on issues important to the producers of the state. 
 
 
 
 
 
Brahman Field Day
On Saturday at The Deep South Brahman Association met at the Simpson County Livestock Barn for their annual field day. The group honored Brahman Breeders who made advances to the breed in Mississippi. Breeders honored were: (L to R) Marshall Wood, Rex Broadhead, Jr., Joe Magee, Clyde Goudeau, Dr. Robert Barlow, and Mike Mitchell. Seated: Tim Hill.
New officers elected are (L to R): Glen Howe, treasure, Whitney Phillips, youth advisor, Stacy Broadhead, director at-large, Sherri Hanna,secretary, Rico Lee, president, and Chance Hinton, vice-president. 
 
 
 
 
 
Feeder Calf Board Sale
The Homeplace Producers Feeder Calf Board Sale is scheduled for Monday August 1, 2016 in Hattiesburg, MS. This sale is unique in that cattle are marketed by video and are not on site. The primary advantage of these sales is that they accommodate a large number of feeder calves that might not all be ready to ship on a certain day by giving the flexibility to arrange for future delivery. These sales have been deemed a large success by both sellers and buyers alike.
Nominations will be taken till the end of June. For more information or to nominate a group of cattle please visit the Board Sale Page.
 
 
 
 
 
Do You Have The App?
The MSUES Cattle Calculator App is now available for download for Apple and Android devices. Cattle Calculator allows beef cattle producers to make quick everyday calculations important for their operations. Calculations related to reproductive management, animal performance, and management decisions are available . Reproductive calculations include: calving date based on a known breeding date, breeding date based on a known calving date, number of days pregnant based on today's date and a breeding date, and a breeding season calculator which provides calving and breeding dates based on a set breeding season. Animal performance calculations include: Adjusted birth weight, weaning weight, and yearling weight, average daily gain and required gain. Management calculation include: dosage calculations for dewormers and medicines given an animal weight and manufacturer's recommended dosage, frame score calculations, trailer stocking density, and yield grade.
 
 
 
 
 
Father's Day
Father's Day is June 19th, give Dad a gift he will love...MCA merchandise. MCA caps, shirts, or jackets make the perfect gift. You can also renew his membership for $40 for a full year! 
 
 
 
 
Allied Industry Members
 
 
 
 
 

680 Monroe St. Suite A • Jackson, MS 39202 |  601·354·8951

www.mscattlemen.org

 
 
    
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