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Cattle Today

5.22 Markets
>>> Reminder Producers<<<
Markets are changing particularly
rapidly right now with reaction
to the COVID-19 pandemic. We
are monitoring plant closures and
other factors that may affect you
and your cattle marketing.
Please stay in touch with your
Nexus livestock rep. 


Cattle
  • The battle remains between the cutout, cash, and feedlot backup.
  • Packer margins near $1,000/head.
  • Cattle continue to back up at the feedlot level.
  • Slaughter this week so far is 397,000 head vs 481,000 last year and 358,000 last week.
  • Slaughter capacity is building but not fast enough
  • We will again back up close to 100,000 head this week and the same or more next week.
  • Next week’s slaughter will probably be 500,000 head (short kill week) vs 650,000 head needed.
  • Packers will be buying for a full week next week.
  • Retail margins are near zero or negative, this limited Memorial Day featuring (poor demand).
  • COF estimate 90.7%, Placements estimate 80.5%, Marketing estimate 74%.
  • Cold storage beef up 13.9% vs a year ago, weights are large.
  •  Beef in cold storage is 489.999 mln lbs, down 12 mln lbs vs March. 
  • Seasonals are negative. Discounts of futures to cash is the positive.
  • USDA has cash cattle at 98-100 from now until next March.  Call for updates.
  •  Feeder Cattle Index: $126.60 vs $126.89 prior.
  • Boxed beef: Choice down $2.23/cwt to $401.81, Select down $8.65/cwt to $382.53, C/S spread $19.28, 136 loads.
     
Visit with your cattle rep for the latest on how to sell now.
The Newly Updated Nexus Cattle Calculator is Live In the Apple App Store and Google Play!

Successful Farming
Red Meat Production Plunges 23 Percent

The Pig Site
USDA Reports Tightened Meat Inventories

News Max
Illegal Aliens Major Role in Food Supply

Drovers
Fewer Than 1 Percent of Farm Workers Have COVID-19

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