Live Futures Drop, Feeder Futures Rise
USDA Stops Reports Oct. 1
Because of a lapse in federal government funding, USDA stopped issuing market reports on October 1. Consequently, there is little data available on current livestock prices, meat prices, weights or slaughter. USDA has also blocked access to online historic data.
Missouri feeder cattle auction price averages this week for medium and large frame #1 steers were 400-500# $187.82, 500-600# $173.64, 600-700# $167.38, 700-800# $163.38, and 800-900# $157.17/cwt. Medium and large frame #1 heifer price averages in Missouri were 400-500# $166.08, 500-600# $159.53, 600-700# $155.06, 700-800# $149.99, and 800-900# $144.69/cwt.
The October live cattle futures contract closed at $128.05/cwt today, down 20 cents from last week's close. December fed cattle settled at $132.42, up 35 cents for the week. February cattle close at $134.30/cwt and April at $135.45/cwt.
The October feeder cattle futures contract ended the week at $164.45/cwt, up 33 cents from the previous Friday. November feeder cattle settled at $165.95, up $1.00 for the week. The January feeder contract ended the week at $165.95/cwt, the same as the November contract.
The December corn futures contract ended the week at $4.43/bushel, down 11 cents for the week. February corn settled at $4.56/bu also down 11 cents from the previous Friday.
The October soybean meal contract ended the week at $431.30 per ton, up 11.40 from the previous Friday. December meal settled at $418.40, up 10 cents for the week.∆
DR. RON PLAIN AND DR. SCOTT BROWN: Agricultural Economists, University of Missouri