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Lot 58

Thomas Farms - THE INFUSION SALE
Live Event Started: 5/12/18 1:00 PM (CDT)
Corn Facts: Nine (9) states produced more corn than Canada in 2020 (Iowa, Illinois, Nebraska, Minnesota, Indiana, Kansas, South Dakota. Ohio & Missouri)
CATTLE ON FEED: U.S. inventory reported at 11.965 million head on January 1st, up slightly from last year. The U.S. inventory has been larger than 11 million head for 38 out of the last 39 months (VIEW REPORT)
U.S. CATTLE REPORT: Massive Slaughter, Cattle On Feed, Meat Prices Continue Upward... (VIEW REPORT)
Livestock Comments: $7 gap between cash and futures price (VIEW REPORT)
There have been news reports that China may become a bigger player in U.S. markets now that the new presidential administration has taken office (Andrew Griffith)
The Choice and Select boxes started the year off a little slow, but the Choice price has advanced $14 per hundredweight while the Select price has increased $16 per hundredweight since the end of 2020 (Andrew Griffith)
Another reason many producers are moving cattle in the near term is to make room for the next calf crop that is already hitting the ground or that will be hitting the ground the next two to three months (Dr. Andrew Griffith)
The interesting part of this equation is that February live cattle futures are trading over $116 which means the $7 gap between today’s cash price and the futures price has to be closed at some point (Andrew Griffith)
The 5-area weighted average prices thru Thursday were $109.23 live, down $0.29 compared to last week and $172.59 dressed, down $0.47 from a week ago. A year ago, prices were $124.28 live and $198.86 dressed (Griffith)
BEEF FACTS: Weekly beef production averaged 510.4 million pounds in 2020. The highest weekly production in 2020 was 565.1 million pounds, the 4th highest on record
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