FNATIONAL FEEDER AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This week Last week 2017
306,000 303,100 294,300 Hd
Compared to Feb. 16: Steers and heifers sold uneven from 2.00 lower to 3.00 higher. Regular volume buyers were in attendance at sales this week as a winter storm dumped rain and ice across a good chunk of drought stricken terra firma in Oklahoma, Missouri and Iowa.
Ranchers are more prepared to deal with snow and rain, but when ice comes that is a whole new beast.
In addition, the calendar is now getting close to March and with that turn, the start of calving season is upon the beef cattle world.
With the barometric pressure change, there may have been a few calves come early and rain coupled with mid 30-degree temperatures is not a good environment for a newborn calf to meet.
Feeder cattle were not following the fed cattle trade this week as some handsome prices were seen in several auctions this week.
On Wednesday at Bassett, Neb., a load of 719 lb replacement quality heifers sold at 183.50; higher than any steer mates in that weight group this week. In addition, a load of 777 lb sisters sold at that same sale for 173.00.
On Wednesday in Green City, Mo., a package of 525 lb steers suitable for grazing sold at 217.00. Also on Wednesday in St Joseph, Mo., near 300 head of light 7-weight steers sold in a range of 170.25 to 175.00 for a weighted average of 173.47. After last week’s 130.00 fed cattle trade, packers appeared to have sent out new boxed beef bid sheets for this week.
With the Choice boxed beef cutout value rising nearly 8.50 this week to close at 218.37, packers were glad to see the futures break on Wednesday and were not too proud to look a gift horse in the mouth as they were expecting to pay steady money for this week’s showlists.
After a surprising limit down drop of the April Live Cattle contract, some true hedgers contacted packers to try and take advantage and put some unexpected extra dollars back in their trading account. With that hurried contact, packers felt they were in the driver’s seat and proceeded to buy fed cattle that were priced to them at 128.00.
This week’s strong gains in the cut-out value coupled with the lower fed cattle trade will keep packer margins in very good shape after this week’s trade.
Thursday’s Cold Storage report stated total red meat supplies in freezers were up 9 percent from the previous month and up 1 percent from last year. Total pounds of beef in freezers were up 2 percent from the previous month but down 7 percent from last year.
Frozen pork supplies were up 16 percent from the previous month and up 8 percent from last year. The domestic pork and total red meat production totals during January were new all-time record highs.
Friday’s Cattle on Feed data was reported at 108 percent of a year ago; Placements 104 percent; Marketings 106 percent.
Auction volume this week included 64 percent weighing over 600 lbs and 43 percent heifers.
Slaughter cattle traded mostly 1.00-3.00 lower for live and steady to 1.00 lower on dressed offerings. Boxed Beef prices as of Friday afternoon averaged 215.60 up 8.10 from last Friday.
The Choice/Select spread is 5.55. Slaughter cattle on a national basis for negotiated cash trades through Friday afternoon totaled 109,761 head. Last week’s total head count was 37,258.
Midwest Direct Markets:
Live Basis: Steers and Heifers: 128.00-130.00.
Dressed Basis: Steers and Heifers: 204.00-206.00.
South Plains Direct Markets:
Live Basis: Steers and Heifers 128.00-128.50.
Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls sold mostly 1.00 to 5.00 higher. Packer demand good. Cutter Cow Carcass Cut-Out Value on Friday 170.74.
Direct Feeder Cattle
This week Last week 2017
1,500 390 4,650 Tons
Compared to Feb. 16: Limited supplies last week thus not enough to compare for this week’s trends. Demand moderate to good.
The feeder supply included 100 percent over 600 lbs and 48 percent heifers. Unless otherwise stated prices are FOB weighting points with 2-3 percent shrink or equivalent and a 5-10 cent slide on calves and a 4-12 cent slide on yearlings from base weights. Current sales are up to 14 days delivery.
Feeder Steers Medium and Large 1:
356 Head: 675 lbs; 162.00-168.50; Current Del
50 Head: 725 lbs; 158.00; Current Del, Part Load
250 Head: 760 lbs; 156.00; Current Del
120 Head: 825 lbs; 148.50; Current Del
Feeder Heifers Medium and Large 1:
560 Head: 770 lbs; 133.50; Current FOB
104 Head: 640 lbs; 150.00; Current Del
25 Head: 725 lbs; 146.00; Current Del
35 Head: 800 lbs; 140.00; Current Del, Part Load