Oil and gas, livestock prices for May 11

Published: May 11, 2013

Citation Oil & Gas Corp.; East Fitts Unit No. 29-18 Well; NE1/4 SE1/4 NW1/4 SW1/4 of 28-02N-07E; TD 4,100.

Stephens: Banner Oil & Gas LLC; School Land No. SL-60 Well; SW1/4 SW1/4 SW1/4 NW1/4 of 14-03S-05W; TD 1,200.

Banner Oil & Gas LLC; School Land No. SL-61 Well; NW1/4 SW1/4 SW1/4 NW1/4 of 14-03S-05W; TD 1,200.

Banner Oil & Gas LLC; School Land No. SL-62 Well; NE1/4 SW1/4 SW1/4 NW1/4 of 14-03S-05W; TD 1,200.

Nitro Petroleum Inc.; Giant No. 1-21 Well; NE1/4 SE1/4 NW1/4 NW1/4 of 21-02N-08W; TD 6,700.

SOURCE: OIL-LAW RECORDS CORP.

LIVESTOCK

Oklahoma Combined Weekly Auction Summary. Feeder Cattle Weighted Average Report and Cow and Bull Report for the week of May 3 to Thursday.

Receipts: 21,130; Last Week 27,720; Last Year 33,635.

Combined weighted average report for Oklahoma auctions. Seven auctions reported this week: Apache, El Reno, McAlester, Oklahoma City, Tulsa and Woodward. Feeder steers sold 1-5 lower. Feeder heifers 2-4 lower. Stocker cattle and calves lightly tested for the week but a weak undertone noted. Demand for feeder cattle fell this week due to a bearish market on the CME. On a positive note, rain continues to fall here in Oklahoma with decent rain chances remaining in the forecast.

Feeder Steers: Medium and Large No. 1: Calves: 323 lbs. $197.07; 383 lbs. $178.76; 431 lbs. $173.99; 478 lbs. $164.79; 525 lbs. $161.69; 569 lbs. $154.41; 619 lbs. $135.96; 671 lbs. $134.49; 716 lbs. $130.22. Yearlings: 620 lbs. $147.37; 683 lbs. $140.74; 734 lbs. $135.21; 769 lbs. $132.37; 818 lbs. $129.62; 872 lbs. $124.41; 923 lbs. $121.71; 967 lbs. $119.26; 1017 lbs. $116.17.

Feeder Heifers: Medium and Large No. 1: Calves: 334 lbs. $163.20; 375 lbs. $155.40; 430 lbs. $153.21; 470 lbs. $147.65; 519 lbs. $141.75; 580 lbs. $138.75; 622 lbs. $128.79; 682 lbs. $124.18; 713 lbs. $119.80. Yearlings: 623 lbs. $130.80; 677 lbs. $127.85; 725 lbs. $125.08; 770 lbs. $122.75; 822 lbs. $118.87; 866 lbs. $116.61; 926 lbs. $113.27; 979 lbs. $112.41.

Slaughter Cows: Average dressing Boners and Breakers $80.50-$89; Lean cows $75-$81.50. Slaughter bulls Average dressing $97.50-$103.50.

SLAUGHTER CATTLE

Slaughter cattle $2-$3 lower. Dressed sales $3-$4 lower. Sales confirmed so far this week totaled about 34,000 head through Friday afternoon. Last week 116,637.

Nebraska Feed Yards Live Basis: Steers and Heifers: $126.

Dressed Basis Steers and Heifers: $202-$204.

Texas and Kansas Feed Yards Live Basis: $126.

CATTLE FUTURES

Friday's Close

Live Cattle: June $120.45; Aug. $120.77; Oct. $123.92; Dec. $125.67.

Feeder Cattle: May $135.37; Aug. $146.62; Sep $148.82; Oct. $150.75.

CATTLE SLAUGHTER

Federally Inspected Cattle: 631,000 head down 1.6 percent from a year ago.

HOGS

OKLAHOMA CITY DIRECT HOGS

Receipts: 265 head this week

Barrows and Gilts:

U.S. Nos. 1-3 220-270 lbs., $48.

Sows:

U.S. Nos. 1-3 300-500 lbs., $42-$44.

U.S. Nos. 1-3 500-700 lbs., $46-$48.

Boars: 200-250 lbs. $20; over 250 lbs. $5.

Western Cornbelt Direct Lean Hog Base Price weighted average price of packers bids on a carcass basis delivered to packing plants Friday was $90.12.

HOG FUTURES

Friday's Close.

Dressed Basis (74% yield): May $92; June $90.50; July $90.90; Aug. $90.

HOG SLAUGHTER

Federally Inspected Hogs: 2.078 million head down 0.8 percent from a year ago.

SHEEP SLAUGHTER

Federally Inspected Sheep/Lambs: 39,000 head up 8.3 percent from a year ago.

BOXED BEEF

Estimated Composite Boxed Beef Cutout Values: Friday.

Box beef cutout values: $2.19 higher than last Friday. Choice 600-900 lbs. $204.98. Select 600-900 lbs. $191.20.

MEAT PRODUCTION

Beef: 492.9 million lbs. down 1 percent from a year ago.

Pork: 431.6 million lbs. down 0.8 percent from a year ago.

Lamb: 2.8 million lbs. no change from a year ago.

Cattle Carcass Weights — National Average

This week estimate: 783 lbs.; Last week estimate: 785 lbs.; Last year's actual: 778 lbs.

SOURCE: USDA-OKLAHOMA AGRICULTURE DEPARTMENT MARKET NEWS SERVICE