Morning Livestock Report, 12/28/2015

Monday, December 28, 2015

You’ll have no difficulty finding pictures or weather reports from the TX panhandle this morning which got walloped by winter weather this weekend and has now moved its way into parts of KS, NE, and IA. From what I can tell the event seems to have been as nasty as advertised in the South, and maybe more significant in the North than we’d expected late last week?? Futures spent much of last week trading sharply firmer, anticipating the weather problems alongside spot cash cattle and boxed beef markets which also moved quickly higher. Cattle performance has become the center of attention with the past four weeks’ cumulative weather perhaps helping the industry dig out of the carcass weight problems we’d developed through the summer and fall. Week ending Dec 12 slaughter data showed the average carcass down another 2 lbs vs the prior week -steers down 4 lbs, heifers down 1. Weights remain record heavy for this time of year, but are up “only” 15 lbs vs a year ago, down from the 34 lb difference seen in Sep. Note there were six new deliveries tendered Thursday, all heifers at Dodge City.

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