The Day at a Glance:

• Relatively quiet- again
• Texas $82.00-$84.00
• Wet blue Texas $103.00 c&f
• Colorado steers $80.00
• Butts $92.00-$93.00
• Natives $95.00
• Branded heifers $67.00-$69.00
• Dairy cows $71.00
• Combined export sales 432,500
• Combined shipments 522,500
• Combined outstanding 3,726,200 / 6 month low
• Today’s trend: Trying to hold

HEAVY TEXAS STEERS

1. Seasonal average wet blue sold at $103.00 c&f
2. 60/64 lbs. traded at $84.00
3. 62/64 lbs. were posted at $82.00
4. A bid on 60/62 lbs. at $82.00 was countered

BRANDED STEERS

1. 60/64 lb. Colorado’s sold at $80.00
2. Another sale of Colorado’s was booked at $80.00 on 60/62 lbs.

BUTT BRANDED STEERS

1. 60/64 lbs. traded at $92.00
2. 62/64 lbs. sold at $93.00
3. 66/68 lbs. were posted at $101.00

HEAVY NATIVE STEERS

1. Seasonal averages were posted at $95.00

HEIFERS

1. A bid on brands at $68.00 was countered
2. Brands traded at $67.00
3. 48/50 lbs. sold at $69.00

PLUMP COWS

1. Conventional native packers sold at $56.00 on 60/64 lbs. Laredo

HOLSTEINS

1. 48/50 lbs. traded at $71.00, steady with yesterday
2. Conventional native packers were booked at $63.00 Laredo

SMALL PACKERS

1. A bid on 58/60 lb. natives at $60.00 Laredo was countered

LOW GRADES

1. A bid at $50.00 on packer machine damaged thirds was countered

Industry News

Packer margins +

The Sterling Beef Profit Tracker reported that average beef packer margins were a positive $67.12 per head for the week ending May 29th

Exports

Raw hides sales off 23%

Net sales for the period ending May 28th 298,600. This is down 23% from last weeks 389,600 hides. Two weeks ago 512,500 were reported sold. This weeks total is 27% below the previous four week average. Destinations were:

Shipments were 402,600. This was 38% above last weeks 292,800. It’s slightly below the total two week ago when it was 423,000. This weeks number is 2% below the previous four week average. Outstanding sales fell to 2,958,700, down from 3,060,200, and incrementally below two weeks ago when it was 2,960,600.

Wet blue sales up 50%

Net sales of wet blue hides for the period were 133,900. This was 50% above last weeks 89,400, as well as two week ago when it was 26,800. This weeks total was 5% below the previous four week average. Destinations were:

Shipments for the period were 119,900. This is down 30% from last weeks 155,400. Two weeks ago, 190,600 were shipped. Outstanding sales as of May 28th were 767,500. This is up from 753,500 last week but below two weeks ago when it was 819,300

Split sales up

Net sales of splits for the period were 204,700 lbs. This is up from last weeks 134,600 lbs. but down from two weeks ago when it was 1,109,400 lbs. 417,600 lbs. were reported to Korea, but there was a cancellation/adjustment of 214,100 lbs. on a previous sale to Italy.

Shipments were 403,800 lbs. This is down from last weeks 1,134,100 lbs., as well as two weeks ago when it was 1,790,200 lbs. Outstanding sales as of the 28th were 13,718,700 lbs. This is down from last weeks 14,229,200 lbs., as well as two weeks ago when it was 15,288,700 lbs.

Market Observations

Today’s trend: Trying to hold

1. While the number of trades today where the largest of the week, volume still appears to be below production and seems destined to end the week this way.
2. Export numbers disappointed some, but it is still another week of less hides/blue being sold than packers generated. Based on volume so far this week, we would think export numbers released next Thursday will be along the lines of what was posted today.

Federally Inspected Slaughter

Wednesday’s slaughter included 90,000 steer/heifers and 21,000 bulls and cows

Prices at the Close of Trading Today