Market reports — March 4, 2016
Compared to last week, calves traded mostly steady to 5.00 higher and yearlings sold mostly steady to 3.00 higher. Active trading again this week in the major marketing areas with heavy receipts, as the feeder cattle market continues to rally for feeders suited for spring and summer turn out. March has arrived with spring-like weather throughout much of the trade area as stocker buyers are aggressively readying themselves for the arrival of the lamb; as “grass fever” is bound to be an epidemic for the balance of the month. Demand remains very good for heavier stocker cattle weighing 500-700 pounds, which is just right for these hard-wintered cattle coming off winter pastures. The yearling market also remains very active as on Thursday in Ogallala, Neb., sold over 7500 head with over 550 head of 800-850 pound steers averaging 828 pounds sold with a weighted average price of 157.32. At the Hub City Livestock auction in Aberdeen, S.D. on Tuesday sold over 7800 head with over 700 head of steers weighing 800-850 pounds averaging 823 pounds sold with a weighted average price of 153.17 and a pot load of value added drug-free steers weighing 806 ls dropped the gavel at 165.75. After a two week rally, cattle futures showed a little sign of fatigue this week, but no volatile movement as the CME is in its 1st week of new hours of trading, from 8:30 AM to 1:05 PM CT. There is still plenty of caution existing in the market as deferred months in Live Cattle are showing unwillingness to build in any premiums for now.