AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This week Last week 2017 (Hd)
604,300 80,300 370,100
Compared to the last tested market two weeks ago, steers and heifers sold 1.00 to 4.00 higher with instances 6.00 to 7.00 higher. Feeder cattle auctions bucked the lower futures trend this week by fetching some handsome prices for yearlings this week.
Long strings and load lots of backgrounded steers and heifers on hand at many auctions in the Northern Plains this week.
Active markets were evident this week in spite of hot and humid weather scorching the center of the country with no end in sight for drought stricken areas.
Buyers were ready to fill pens after last week’s sharp uptick in negotiated cash sales of fed cattle in the North and South Plains.
On Wednesday in the Sandhills of Nebraska at Bassett Livestock, a load of 767 lb steers sold at 174.00, while two loads of 919 lb steers sold at 157.75. In addition, a load of 1023 lb steers sold for 145.50 at their Annual BBQ Yearling and Fall Calf Auction.
At Valentine Livestock Auction in Valentine, Neb., a load of 574 lb thin fleshed steers sold at 199.75 and three drafts of 705 to 729 lb steers that would combine to a short load sold at 177.25.
Also, two loads of steers weighing 914 and 924 lbs sold at 159.85.
For the cow-calf producer, the hot dry weather and lack of any rains is making water and grass conditions very concerning. The water situation in some areas are at critical levels and producers can find ways to feed animals, however hauling water gets to be an even bigger burden. A consequence of the extra dollars being spent this summer on water and feed is leading to cattle being sold at auction more so than in a normal year when receipts get light in the summer.
Reports of some supplemental hay feeding taking place as the latest drought monitor showed over 8 percent of Missouri and Oklahoma, 6 percent of Kansas, and near 5 percent of Texas is the D3 Extreme Drought status.
This week’s total volume on this report totals 604,300, which is the largest total volume since week ending July 16, 2010.
Grain prices have fallen sharply over the last few weeks as most of the major grain producing states are not in drought status. Corn and soybeans are finding pressure from the good to excellent crop ratings at 75 percent and 71 percent respectively.
Late last week, beef export sales were reported for May at 89,823 MT, near 20 percent higher than the previous year.
Strong demand and more beef available for export drove the volume as merchandisers were able to let the market pull product through the pipeline.
Fed cattle have not been established yet as of this writing as packers continue to try and hold their margin where it is for as long as they can.
Boxed-beef prices continue to seek its seasonal low as Choice closed the week 3.89 cents lower at 204.14 and Select closed 2.34 cents lower at 196.37, putting the Choice-Select spread at 7.77. Auction volume this week included 52 percent weighing over 600 lbs and 40 percent heifers.
Thus far for the week: No trend available for live or cash cattle so far this week due to limited receipts. Boxed Beef prices as of Friday afternoon averaged 200.26 down 3.11 from last Friday.
The Choice/Select spread is 7.77.
Slaughter cattle on a national basis for negotiated cash trades through Friday afternoon totaled 11,377 head. Last week’s total head count was 101,607.
Midwest Direct Markets:
Live Basis: Steers and Heifers: N/A.
Dressed Basis: Steers and Heifers: N/A.
South Plains Direct Markets:
Live Basis: Steers and Heifers N/A.
Slaughter Cows and Bulls (Average Yielding Prices): No trend available for slaughter cows and bulls this week due to last week’s holiday and most auctions were closed. Packer demand moderate to good. Cutter Cow Carcass Cut-out Value on Friday afternoon was 186.81 up 0.83 from last Friday.
Direct Feeder Cattle
This week Last week Last year
1,522 3,822 4,250
Compared to last week: Limited comparable weight ranges from last week to compare to. Demand remains good as packing houses are trying to get their hands on inventories and feedlots filling back up.
The feeder supply included 100 percent over 600 lbs and 18 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:
130 Head: 825 lbs; Avg Price 155.00; Current Del
450 Head: 935 lbs; Avg Price 149.00; Current Del
140 Head: 800 lbs; Avg Price 150.00; Aug Del
525 Head: 650 lbs; Avg Price 154.25; Nov Del
Feeder Heifers Medium and Large 1
277 Head: 825 lbs; Avg Price 142.00; Aug Del